ANIChina will extend its suspension of an additional 24% tariff on US goods by two months from November 10, while retaining the existing 10% duty, Reuters reported, citing an official statement by the finance ministry.
The ministry said the suspension would take effect at 1:01 pm on Tuesday.
The move extends a tariff arrangement between the world's two largest economies, under which Beijing had kept the higher duties on American imports on hold while maintaining the 10% levy.
The latest decision follows an agreement announced in November last year, when China said it would suspend the additional 24% tariffs on US goods for one year, effective November 10, 2025. The announcement formalised an understanding reached between US President Donald Trump and Chinese President Xi Jinping during their meeting in South Korea in late October 2025.
(You can now subscribe to our Economic Times WhatsApp channel)
The ministry said the suspension would take effect at 1:01 pm on Tuesday.
The move extends a tariff arrangement between the world's two largest economies, under which Beijing had kept the higher duties on American imports on hold while maintaining the 10% levy.
The latest decision follows an agreement announced in November last year, when China said it would suspend the additional 24% tariffs on US goods for one year, effective November 10, 2025. The announcement formalised an understanding reached between US President Donald Trump and Chinese President Xi Jinping during their meeting in South Korea in late October 2025.
Add 
as a Reliable and Trusted News Source
as a Reliable and Trusted News Source
Add Now!
(You can now subscribe to our Economic Times WhatsApp channel)
ETPrime Membership
