China confirmed Monday that it will suspend an additional 24% tariff on US goods for another two months, until January.
The move will take effect at 1:01 p.m. Beijing time on Tuesday, while a 10% blanket tariff on US imports remains in place, the State Council’s Customs Tariff Commission said.
In a separate statement on Monday, the Transport Ministry said China would extend its suspension of special fees for American ships docking at its ports until Jan. 10.
The extension follows an agreement reached by Presidents Donald Trump and Xi Jinping in September to extend their tariff ceasefire until early next year. The truce, originally set to expire on Nov. 10, was extended by both sides, who agreed to suspend their mutual 24% levies while keeping the 10% rate in place.
China said it would closely monitor US plans to replace Trump’s emergency tariffs and warned it may adjust its countermeasures in response.
Trump and Xi are expected to meet later this month in Shenzhen at the Asia-Pacific Economic Cooperation gathering, marking their third summit this year.
By CEO NA Editorial Staff
