BEIJING, Nov 9 (Reuters) – China will maintain the suspension of its additional tariff of 24% on US imports for two months from 13:01 p.m. on Tuesday, but retain a tariff of 10%, its state council, or cabinet, said.
• After September’s Washington summit of their leaders, both sides proposed a $60-billion package of reciprocal tariff cuts, including roughly $17 billion worth of US farm goods that China imported in 2024, though the plan has yet to be finalised
• China is extending the tariff suspensions to implement the “outcomes and consensus reached at the Washington meeting between the heads of state of China and the United States”, the council’s tariffs panel said in a statement
• China has “noted that the US side has repeatedly stated that it intends to use Section 301 tariffs to replace the tariffs imposed under the International Emergency Economic Powers Act (IEEPA) that have been held invalid by judicial rulings” it said
• China will “closely follow subsequent measures taken by the US side and will, as appropriate, adjust relevant tariff countermeasures in light of developments,” it added
• Continued suspension of some additional tariffs on U.S. goods will help ensure a stable and predictable policy environment for ties and promote development of China–U.S. economic and trade relations, it said
(Reporting by Xiuhao Chen, Qiaoyi Li and Ryan Woo; writing by Farah Master; Editing by Clarence Fernandez)
