US EditionChina confirms suspension of 24% tariff on US goods, retains 10% levy
China will suspend a 24% tariff on U.S. goods for one year but keep a 10% levy, halting retaliatory tariffs on key U.S. agricultural products, easing trade tensions.
- Effective Nov 10, China's State Council tariff commission said it will suspend its additional tariff on U.S. goods for one year while retaining a 10% levy, the Ministry of Finance said.
- The decision follows the consensus reached in the China‑US economic and trade consultations, as top economic leaders met several times in recent months to set the stage.
- China's Ministry of Finance said it will halt retaliatory tariffs on U.S. agricultural products including soybeans, corn, wheat, sorghum, and chicken starting Monday.
- The development supports the bullish case for risk assets, as easing trade tensions could remove a major source of uncertainty for the global economy and financial markets, with Bitcoin trading near the 50‑week simple moving average.
- In recent months, repeated rounds of talks set the stage for reciprocal moves as Washington formalised cuts to its additional tariffs on Chinese imports, after duties once reached prohibitive triple-digit levels.
25 Articles
25 Articles
A sign of de-escalation: China wants to waive tariffs for agricultural products from the US. But the trade conflict is not over yet – the US is blocking the sale of modern AI chips from Nvidia.
The decision was taken after the meeting of Heads of State.
China Eases Tariff Tension Amidst Trade War with the U.S.
China Eases Tariff Tension Amidst Trade War with the U.S. In a significant move to ease trade tensions, China announced a one-year suspension of the 24% additional tariffs imposed on U.S. goods in April, while retaining a 10% tariff. This decision was confirmed by China's Cabinet on Wednesday.The State Council's tariff commission further disclosed plans to eliminate duties of up to 15% on certain U.S. agricultural products starting November 10. …
Coverage Details
Bias Distribution
- 46% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
