US EditionChina confirms suspension of 24% tariff on US goods, retains 10% levy
- Effective Nov 10, China's State Council tariff commission said it will suspend its additional tariff on U.S. goods for one year while retaining a 10% levy, the Ministry of Finance said.
- The decision follows the consensus reached in the China‑US economic and trade consultations, as top economic leaders met several times in recent months to set the stage.
- China's Ministry of Finance said it will halt retaliatory tariffs on U.S. agricultural products including soybeans, corn, wheat, sorghum, and chicken starting Monday.
- The development supports the bullish case for risk assets, as easing trade tensions could remove a major source of uncertainty for the global economy and financial markets, with Bitcoin trading near the 50‑week simple moving average.
- In recent months, repeated rounds of talks set the stage for reciprocal moves as Washington formalised cuts to its additional tariffs on Chinese imports, after duties once reached prohibitive triple-digit levels.
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40 Articles
China to extend tariff suspension on imported U.S. products
China will continue to suspend the 24-percent additional tariff on imports from the United States for one year while retaining the 10-percent rate, according to an announcement released Wednesday by the Customs Tariff Commission of the State Council.
China said it would extend the temporary suspension of an additional 24 percent tariff on American goods for one year, formally confirming an agreement reached last week between Chinese and American Presidents Xi Jinping and Donald Trump. It will maintain the overall tariff rate of 10 percent on imports from the United States.
Observador
Jornal de NegóciosThe decision to suspend the 24% rate for only one year aims to "implement the results and consensus reached in economic and commercial consultations between China and the United States".
This new suspension, announced the day after a new Donald Trump decree lowering a customs surcharge on many Chinese products, is due to take effect on November 10.
A sign of de-escalation: China wants to waive tariffs for agricultural products from the US. But the trade conflict is not over yet – the US is blocking the sale of modern AI chips from Nvidia.
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