China eases some U.S. tariffs, denies Trumps negotiation claims [Video]

China exempted some U.S. imports from its steep tariffs in a sign on Friday that the trade war between the world’s top two economies could be easing, though Beijing quickly knocked down U.S. President Donald Trump’s assertion that negotiations were under way.

Business groups said China has allowed some U.S.-made pharmaceuticals to enter the country without paying the 125 per cent duties that Beijing imposed earlier this month in response to Trump’s 145 per cent tariffs on U.S. imports.

Also, a list of 131 product categories said to be under consideration for exemptions was circulating among some businesses and trade groups. Reuters could not verify the list, which includes vaccines, chemicals and jet engines, and China has not yet communicated publicly on the issue. Trump’s administration has in recent days signaled it is looking to de-escalate the confrontation with China, and Trump himself told TIME magazine that talks were taking …