Economy

China Extends Suspension of Additional Tariffs on US Imports for 2 Months

AI SUMMARY

China has extended the suspension of its 24% additional tariff on US imports and special port fees on US-linked ships for two months.

China extended the suspension of its 24% additional tariff on US imports and special port fees on US-linked ships for two months.
The 10% additional tariff rate on US imports will remain in place.
The extension aims to implement consensus reached during the Washington summit between US President Donald Trump and Chinese President Xi Jinping.
A previously proposed $60 billion package of reciprocal tariff cuts, including about $17 billion in US farm goods from 2024, has not yet been finalized.
China stated it will monitor US moves regarding the potential replacement of invalid tariffs with Section 301 tariffs and adjust countermeasures accordingly.
The suspension of special port fees and related shipping industry investigations by China's Ministry of Transport is extended until Jan. 10, 2027.