China will keep its 24% additional tariff on US goods suspended for two more months from November 10, while retaining the 10% additional tariff, according to a statement from China’s Ministry of Finance, as reported by Republic World. The decision, approved by the State Council, follows the consensus reached at a meeting between the Chinese and US leaders in Washington.
On the US side, the Office of the United States Trade Representative (USTR) announced on November 9 that it is extending all 178 current exclusions from Section 301 tariffs on certain Chinese products. The exclusions, which were due to expire on November 9, will now run until January 9, 2027.
In September, the two countries agreed to pursue more favorable tariff treatment for US$30 billion worth of non-sensitive goods traded in each direction. Presidents Xi Jinping and Donald Trump are expected to meet next week at the Asia-Pacific Economic Cooperation (APEC) summit in Shenzhen, where tariff policy will be in focus, as reported by Reuters.
