+ Follow us On Google

China said on Wednesday it would extend the suspension of an additional 24 per cent tariff on US goods for one year, keeping a 10 per cent blanket tariff in place.

The decision effectively delays the reimposition of higher duties amid ongoing efforts to stabilise trade relations between the world’s two largest economies.

In a statement posted on the Ministry of Finance website, Beijing’s State Council said, “For one year, the 24 per cent tariff on US goods will continue to be suspended, and a 10 per cent tariff on US goods will remain."

The decision, effective November 10, follows “the consensus reached in the China–US economic and trade consultations," the statement added.

The move comes after Chinese President Xi Jinping and US President Donald Trump met in S

See Full Page