Beijing, Nov 9:
China will extend the suspension of its 24 percent additional tariff on select United States imports for another two months starting Tuesday, while keeping a baseline 10 percent levy intact, the State Council announced.
The tariff panel noted that the extension aims to preserve the understandings and consensus reached between the heads of state of China and the US during their bilateral discussions in Washington. Following that summit, both nations outlined a reciprocal $60-billion package of tariff adjustments, covering approximately $17 billion worth of American agricultural products shipped to Chinese ports.
Beijing noted that it is monitoring ongoing US administrative moves regarding Section 301 tariffs and indicated it would adjust its retaliatory measures depending on policy continuity. The State Council emphasized that continuing the tariff moratorium is intended to maintain regulatory predictability and foster bilateral trade stability.