China Lifts Ethane Tariffs Amid Trade Tensions

China has recently lifted the 125% tariff on U.S. ethane imports, providing relief for Chinese companies importing the product for petrochemical production. This decision aims to mitigate the economic repercussions from the ongoing U.S.-China trade war and help the U.S. export market for ethane.

In a significant development, China has lifted the 125% tariff imposed earlier this month on ethane imports from the United States. The move comes in response to the ongoing trade tensions between the two economic powerhouses and aims to alleviate pressure on Chinese firms reliant on U.S. ethane for petrochemical production.

According to informed sources, the waiver was granted recently but has not been officially announced. Efforts to reach China's Ministry of Commerce and customs officials for confirmation were unsuccessful after office hours, reflecting the sensitive nature of the decision.

This decision follows a strategic exemption of tariffs on various U.S. imports, including essential pharmaceutical, aerospace, and semiconductor products, as Beijing seeks to soften the economic blow from its trade disputes with Washington.

(With inputs from agencies.)