China extends suspensions of 24% tariff on US goods

China has decided to extend its suspensions of a 24% additional tariff on US imports and special port fees on US-linked vessels for two months, according to a statement from the country's state council. The suspension of the 24% additional tariff will remain in place until January 10, 2027, while a 10% tariff will continue to apply.

The suspension of special port fees on US-linked ships will also be extended until the same date. This decision comes after a Washington summit between Chinese and US leaders, where both sides proposed a $60-billion package of reciprocal tariff cuts. China's move aims to create a stable and predictable policy environment for China-US economic and trade relations.

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