Image Source: economictimes.indiatimes.com
China's finance minister Liu Kun stated in the notice that tariff exemption was going to end on May 18. The list included 79 US imported products. The products include rare earth ore, gold ore, silver ore. These exemptions were given during the mediation rounds between two big economies to end the tariff war. This exemption is extended up to 25 December.
The trade war between China and the US started in 2018 when the then President of the US Donald Trump imposed a tariff on china goods. Trump accused China of unfair trade policies and intellectual property theft. In retaliation, China also imposed tariffs on American goods. This trade war between the two biggest economies of the world impacted the world economy.