China unveils new lists of US items excluded from additional tariffs

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Beijing, Feb 21 | China on Friday unveiled the first set of lists of US goods to be excluded from the second round of tariff counter-measures against Washington.

The exemption, which covers two lists of goods, will be effective from February 28, 2019 to February 27, 2021, Xinhua news agency quoted the Customs Tariff Commission of the State Council as saying.

The first list allows affected import enterprises to apply for refunds of collected duties within six months from Friday.

The second list allows firms to enjoy the exemption but does not allow tariff refunds.

Next, the Commission will continue to work on the exemption process and release subsequent lists in due course, it added.

The development comes after the Commission halved additional tariffs on US imports, including pork, beef, soybeans and whiskey, from February 14.

Beijing had said that the measure was a response to Washington’s decision to reduce the tariff from 15 to 7.5 per cent on $120 billion worth of Chinese goods, Efe news reported.

The announcements came weeks after the US and China signed the first phase of a bilateral agreement in Washington to end a long-running bitter trade dispute between them.

In the agreement signed in Washington last month, China pledged to boost its imports of US goods and services by $200 billion over the next two years in return of the US revoking some tariffs imposed on Chinese goods.

The imports to China include $32 billion in additional agricultural purchases, $52 billion in energy products and $78 billion in additional manufactured goods.

The trade war between the US and China has been ongoing since March 2018 that has led to escalated tensions between the two economies with diverse ramifications apart from the economic ones.

The dispute goes beyond bilateral relations and has had global consequences.

Source: IANS

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Covid-19 Lockdown : Greenwood High International School comes forward to help the needy

Covid-19 Lockdown : Greenwood High International School comes forward to help the needy

Bangalore, April 02, 2020 : The nationwide lockdown to combat Coronavirus outbreak in the country has led to severe difficulties for the poor and homeless people. In an effort to help the needy, Greenwood High International School, has come forward to do their bit to the cause. The school have undertaken the initiative to prepare food for 300 underprivileged families every day and distribute  in and around Sarjapur area with the help of Sarjapur police station. This would be a continuous support from the school authority towards the needy people until the lockdown ends. While distributing the food, the school authority also followed the social distancing norms and ensured that necessary precautionary measures like masks and gloves were used in the entire process to provide clean and hygienic food to the people.

Speaking on this initiative, Ms. Niru Agarwal, Trustee, Greenwood High said: “As much as we believe in inculcating the values of benevolence and philanthropy among our students, we practise these ourselves too. Greenwood High has always been compassionate to help those in need and we continue to do so. We are mindful of contributing to the society in multiple ways and are proud to leverage our sources towards such an important cause. Several NGOs, individuals and businesses are pitching in to help the citizens and government through various initiatives with the hope that humanity would survive these dreadful times of coronavirus onslaught. We believe that only by active collaboration between all the members of the society, we will be able to overcome the impact of this pandemic.”

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