China will offer tariff exemptions of nearly 700 types of goods from the US, including fuel ethanol, the Chinese government announced Tuesday, but traders are currently uncertain about its impact on future imports. Importers can apply for tariff exemptions starting from March 2, according to a statement released by the Customs Tariff Commission of the State Council. The exemptions would be for a year with each application would need to undergo an approval process. Ethanol sources told S&P Global Platts that they remain cautiously optimistic but would definitely apply for the exemptions. “The government would probably consolidate all the applications, consider the total quantity before granting approval as well as deciding on the exemptions to be applied,” said an ethanol producer. US denatured ethanol is subjected to 70% tariff into China. Prior to the trade […]