China Extends One-Year Pause on Extra US Tariffs, Keeps 10% Duty

Post by : Bianca Suleiman

China announced on Wednesday it will prolong the suspension of an extra 24% tariff on imports from the United States for another year, while maintaining an existing 10% blanket duty on those products.

The decision—published on the Ministry of Finance website and issued by the State Council—states the suspension will take effect from Nov. 10 and reflects agreements reached during recent China–US economic and trade consultations.

Beijing's move follows a face-to-face meeting between President Xi Jinping and US President Donald Trump in South Korea last month, which helped secure a one-year standstill in the tariff dispute after intensive negotiations on duties, export controls and market access.

In parallel, Washington this week formalised a reduction in its additional tariffs on Chinese imports, lowering them from 20% to 10%, also scheduled to begin on Nov. 10.

The two economies have repeatedly clashed over trade this year, imposing escalating levies that at times dramatically curtailed bilateral commerce and raised costs for global supply chains.

Despite persistent disagreements over export curbs and sensitive technology sectors, officials from both sides have kept communication channels open through several rounds of talks, seeking to avoid a return to large-scale escalation.

Separately, China said it will lift tariffs of up to 15% on select US farm goods, including soybeans—a step interpreted by analysts as an effort to reassure commodity flows and agricultural markets.

Markets and trade participants will monitor whether this mutual de-escalation evolves into more sustained economic cooperation or remains a temporary reprieve amid ongoing strategic frictions.