China has announced a two-month extension of its suspension of additional 24% tariffs on US imports, effective from noon on Tuesday, while maintaining the existing 10% tariff.
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China’s State Council said the decision was intended to implement the "outcomes and consensus" reached during a meeting between the presidents of China and the United States in Washington.
Following the Washington summit in September, the two sides proposed a reciprocal package of tariff reductions worth $60 billion. The package included approximately $17 billion in US agricultural goods imported by China during 2024. However, the plan has not yet been fully finalized, according to Reuters.
China also said it had taken note of repeated US statements suggesting that tariffs imposed under Section 301 could be used as an alternative to those introduced under the International Emergency Economic Powers Act, some provisions of which have been ruled unlawful by certain court decisions.
Beijing stressed that it would closely monitor any subsequent measures taken by the United States and adjust its corresponding tariff measures when necessary, depending on developments.
China noted that continuing to suspend certain additional tariffs on US goods would help create a more stable and predictable policy environment for economic and trade relations between the two countries, while supporting the development of bilateral trade ties.
Separately, China's Ministry of Transport announced on Monday that it had extended the suspension of special port fees on US-linked vessels until January 10, 2027.
In a statement, the ministry said it would also continue suspending its investigation into the security of supply chains in the shipping and shipbuilding sectors.
The ministry did not provide further details about the reasons for the extension or when the investigation would resume.
Source: Al Arabiya
