China extends suspension of 24% US tariff for two months
China will continue suspending the 24% retaliatory tariff on US imports for two months from 13:01 on 10 November, keeping a 10% tariff in place, as part of efforts to implement the consensus reached at the Washington summit between the two countries' leaders.
China’s State Council Tariff Commission on 9 November announced it will continue suspending the 24% retaliatory tariff on US-origin imports for two months, starting from 13:01 on 10 November, while retaining a 10% tariff. The move is part of efforts to implement the consensus reached at the Washington summit between the Chinese and US leaders, according to a commission statement.
The commission said the continued partial suspension of additional tariffs on US goods aims to provide a relatively stable and predictable policy environment for bilateral business cooperation, and to promote the sustained and healthy development of Sino-US economic and trade relations.
It added that China has noted repeated US statements about replacing the tariffs imposed under the International Emergency Economic Powers Act (IEEPA), which have been ruled invalid, with Section 301 tariffs. China will closely monitor subsequent US actions and adjust its tariff countermeasures as appropriate.
The announcement was published by state broadcaster Radio Television Hong Kong (RTHK) on 9 November.
