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Saudi Minister of Industry and Mineral Resources Concludes Official Visit to China

Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, chaired the Kingdom’s delegation to China.(SPA)
Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, chaired the Kingdom’s delegation to China.(SPA)
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Saudi Minister of Industry and Mineral Resources Concludes Official Visit to China

Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, chaired the Kingdom’s delegation to China.(SPA)
Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, chaired the Kingdom’s delegation to China.(SPA)

Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, concluded his official visit to China, which lasted for eight days, during which he met with Chinese ministers, officials, and investors, SPA said on Tuesday.

He visited companies and factories in four Chinese cities, chairing the Kingdom’s delegation, which participated as a guest of honor in the conference of China and Arab countries.

During his visit, Al-Khorayef met with the Minister of Industry and Information Technology of the People's Republic of China, Jin Zhuanglong, and discussed with him the ways for enhancing cooperation and partnership between the two countries in the industrial sector, exchanging expertise and technology, and expanding mutual investment opportunities between the two nations.

He also met with the Chinese Minister of Natural Resources, Wang Guanghua, and Li Jinfa, the vice president of China Geological Survey, and discussed with them the opportunities and challenges facing the mining sector and enhancing cooperation to increase growth in the mining and metals industry in the region.

The industry minister also discussed with the President of China Mining Association (CMA), Peng Qiming, and the Director of the China Nonferrous Metals Industry Association, GE Honglin, the efforts to promote economic growth and infrastructure development in the mining sector.

Khalid Al-Salem, the president of the Royal Commission for Jubail and Yanbu, Khaled Al-Mudaifer, the vice minister for mining affairs, and several leaders of the industry and mineral wealth system accompanied the minister of industry and mineral resources during his visit.

The visit aims to discuss many issues of interest to the countries, especially in the industrial and mining sectors, and to expand the horizons of strategic cooperation between the two friendly countries.

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China Exempts Some Goods from US Tariffs to Limit trade War Pain

TOPSHOT - An aerial view shows cargo containers stacked at a port in Shanghai on April 20, 2025. (Photo by AFP) / China OUT
TOPSHOT - An aerial view shows cargo containers stacked at a port in Shanghai on April 20, 2025. (Photo by AFP) / China OUT
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China Exempts Some Goods from US Tariffs to Limit trade War Pain

TOPSHOT - An aerial view shows cargo containers stacked at a port in Shanghai on April 20, 2025. (Photo by AFP) / China OUT
TOPSHOT - An aerial view shows cargo containers stacked at a port in Shanghai on April 20, 2025. (Photo by AFP) / China OUT

China has exempted some US imports from its 125% tariffs and is asking firms to identify critical goods they need levy-free, according to businesses notified, in the clearest sign yet of Beijing's concerns about the trade war's economic fallout.

The dispensation, which follows de-escalatory statements from Washington, signals that the world's two largest economies were prepared to rein in their conflict, which had frozen much of the trade between them, raising fears of a global recession.

Beijing's exemptions - which business groups hope would extend to dozens of industries - pushed the US dollar up slightly and lifted equity markets in Hong Kong and Japan.

“As a quid-pro-quo move, it could provide a potential way to de-escalate tensions," said Alfredo Montufar-Helu, a senior adviser to the Conference Board's China Center, a think tank.

But, he cautioned: "It’s clear that neither the US nor China want to be the first in reaching out for a deal."

China has not yet communicated publicly on any exemptions. A Friday statement by the Politburo, the Communist Party's elite decision-making body, focused on efforts to maintain stability at home by supporting firms and workers most affected by tariffs.

The readout, which followed the Politburo's regular monthly meeting, showed that Beijing was also ready to hunker down and fight a trade war of attrition if needed to outlast Washington in enduring the pain from the breakdown of their relationship.

A Ministry of Commerce taskforce is collecting lists of items that could be exempted from tariffs and is asking companies to submit their own requests, according to a person with knowledge of that outreach.

The ministry said on Thursday it had held a meeting with more than 80 foreign companies and business chambers in China to discuss the impact of US tariffs on investment and the operation of foreign firms in the country.

"The Chinese government, for example, has been asking our companies what sort of things are you importing to China from the US that you cannot find anywhere else and so would shut down your supply chain," American Chamber of Commerce in China President Michael Hart said.

Hart added some member pharmaceutical companies had reported being able to import drugs to China without tariffs. He believed the exemptions were drug-specific, not industry-wide.

The chief executive of French aircraft engine maker Safran said on Friday it had been informed last night that China had granted tariff exemptions on "a certain number of aerospace equipment parts" including engines and landing gear.

The tariff exemptions under consideration by Beijing could provide cost relief for companies in China and take pressure off US exports at a time when the Trump administration has shown signs of wanting to make a deal with Beijing.

The European Union Chamber of Commerce in China also said it had raised the issue of tariff exemptions with the commerce ministry and was awaiting a response.

"Many of our member companies are significantly impacted by the tariffs on critical components imported from the US," President Jens Eskelund said.

A list of 131 categories of products said to be under consideration for tariff exemptions was circulating on Chinese social media platforms and among some businesses and trade groups on Friday. Reuters could not verify the list, which included items ranging from vaccines and chemicals to jet engines.

Huatai Securities said the list corresponded to $45 billion worth of imports to China last year.

China's customs agency and Ministry of Commerce did not reply to requests for comment. China's foreign ministry said it was not familiar with tariff exemption plans, redirecting queries to "relevant authorities".