China has announced it will suspend its additional 24 percent tariff on U.S. goods for one year, while retaining a 10 percent levy, according to the State Council’s Tariff Commission.
The decision follows last week’s meeting between President Xi Jinping and Donald Trump, and forms part of early steps toward easing bilateral trade tensions.
The move also includes Chinese plans to reduce some U.S. agricultural tariffs by up to 15 percent starting November 10, signalling goodwill and a pivot toward de-escalation.
Analysts view the suspension of the higher rate as a gesture of flexibility, but note the decision is temporary and leaves the remaining 10 percent tariff in place.
U.S. industry groups welcomed the shift but stressed that full restoration of normal trade conditions will require broader structural concessions from China.
While the announcement boosts market confidence for now, observers caution that without further agreements the truce could collapse and old trade risks return.
