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China suspends imposing customs duties

BEIJING, Dec 15 (KUNA) -- The State Council of the People's Republic of China announced Sunday that it will be suspending Beijin's decision to impose customs of between 5 and 10 percent on some of the United Sated imported goods.
This decision was about to be implanted Sunday, as the suspension came upon the first stage of the commercial and economic agreement conducted last Friday between China and the United States, the Customs Tariff Commission of the State Council said today.
China will work on implanting the proper procedures regarding the customs imposed on the American imported goods according to the commercial agreement between both nations, it added.
China expressed hope that both sides would work upon values of equality and mutual respect, along with enhancing sustainable development of economic and commercial relations between both countries, it said.
The American President Donald Trump announced on his Twitter account on Friday competing the first stage of an important commercial agreement with China.
No customs will be collected by December 15 "punitive fees" on Chinese imports, indicating that the second stage of the agreement will see light soon. (end) mab.lb