China to allow certain US car and car part products to apply for tariff exclusion

Additional details surrounding China's retaliatory tariffs on US imports are now being revealed. Below are some key info as reported by Reuters.

"Will impose extra 5% tariffs on US soybean from September 1."

"Will impose extra 10% tariffs on US wheat, corn, sorghum from December 15."

"Will allow certain US car and car part products to apply for tariff exclusion."

The market sentiment seems to be recovering on this development and the 10-year US Treasury bond, which slumped into the negative territory earlier in the session, is now up 0.4% on a daily basis.