 "China suspends 24% additional tariff on US goods after Trump extends trade truce to November")
China has announced the suspension of 24 per cent additional tariffs on the US after President Donald Trump signed an order postponing the reimposition of higher tariffs on Chinese imports on Monday.
In a statement on Tuesday, China’s Customs Tariff Commission of the State Council said that it will “it will modify the additional tariffs on articles of the US set forth in the Announcement of the Customs Tariff Commission of the State Council No. 4 of 2025, by suspending 24 percentage points of that rate for an additional period of 90 days, starting on August 12, 2025, while retaining the remaining additional ad valorem rate of 10 percent on those articles.”
The order signed by Trump has frozen tariff hikes on China till November 10. “I have just signed an Executive Order that will extend the Tariff Suspension on China for another 90 days,” Trump wrote on his Truth Social platform.
The truce on steeper levies had been due to expire on Tuesday.
The United States and China, the world’s two largest economies, had imposed tit-for-tat tariffs earlier this year before agreeing to a temporary truce during talks in May.
Without an extension, the US tariffs on Chinese goods would have surged to 145 per cent, while Chinese tariffs on American products could have reached 125 per cent.
China will continue suspending its earlier tariff hike for 90 days starting August 12 while retaining a 10-percent duty, the report said.
It would also “take or maintain necessary measures to suspend or remove non-tariff countermeasures against the United States, as agreed in the Geneva joint declaration,” Xinhua reported.
Impact Shorts
More ShortsIn the executive order posted Monday to its website, the White House reiterated its position that there are “large and persistent annual US goods trade deficits” and they “constitute an unusual and extraordinary threat to the national security and economy of the United States.”
The order acknowledged Washington’s ongoing discussions with Beijing “to address the lack of trade reciprocity in our economic relationship” and noted that China has continued to “take significant steps toward remedying” the US complaints.
With inputs from agencies
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