China exempting some American products from increased tariffs will not only beef up exports and jobs in the U.S., but also boost market confidence, according to Professor John Gong from University of International Business and Economics.

The list of American products which will be protected from Chinese countermeasures against the U.S., contains 16 different raw materials including fish meal, raw materials used in cancer drugs and some lubricants among other things. All items on the two lists will be excluded from additional tariffs for a year up to September 16, 2020.

"In term of value, these two lists contain very large amount of lubricants and base oils. These are big commodity items and China imports a lot of these things. So definitely, this message will help jobs," Gong said.

The Customs Tariff Commission of the State Council's moves are aimed to protect Chinese businesses and consumers from collateral damage in the trade war. Items on the lists also include American raw materials that are crucial to the companies' business activities.

During an earlier interview with CGTN, the former U.S. commerce secretary Carlos Gutierrez argued that business from both countries are stuck and feel unsafe in a fight of two large economies.

And Gong thought that the new exclusion will help rebuild confidence in business community.

"I think it reduces a lot of uncertainties regarding the future tariff’s direction. People in business community can make decision right now and you don’t need to care too much about tariffs – even if it imposed, it can be refunded," the professor explained.

He added that "this policy measure will definitely send a very friendly and good signal to Washington, for the upcoming face-to-face negotiation in the first week of October.”

And U.S. President Donald Trump said Wednesday that the U.S. has decided to delay its next planned tariff increase on China by two weeks "as a gesture of good will."

The professor also mentioned that trade war should be interpreted into a broad context of China-U.S. competition. “The U.S.’s China policy has totally changed. But I still hope that China and the U.S. can sit down and work out a trade deal,” Gong added.