Trump-Xi meet aftermath: China extends 24 per cent tariff suspension deal by a year; base 10 per cent duty to remain

China on Wednesday announced it will extend the suspension of an additional 24 per cent tariff on American goods for another year, while retaining a 10 per cent general tariff.

According to a statement on the Ministry of Finance website, as cited by AFP, the State Council approved the measure, saying that “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 extension, effective from November 10, follows recent China–US trade talks and marks a continued pause in escalating tariff measures.

Following discussions in South Korea, Chinese President Xi Jinping and US President Donald Trump reached an agreement to maintain the existing arrangement for another year. On Tuesday, Trump confirmed that Washington would lower its supplementary tariffs on Chinese imports from 20 per cent to 10 per cent, starting November 10.

Trade tensions between the world’s two largest economies have flared this year, with both sides imposing steep duties on each other’s goods, at times reaching triple-digit levels. While senior economic officials have held frequent discussions to stabilise ties, frictions persist over export controls and technology access.

In another move involving tariffs, China said it would lift tariffs of up to 15 per cent on certain American agricultural imports, including soybeans — a gesture seen as part of broader efforts to ease trade pressure.