China announced on Wednesday that it will suspend a 24% additional tariff on U.S. goods for one year, while keeping a 10% tariff in place. The move is aimed at stabilizing trade relations between the two countries and supporting economic recovery, according to the Tariff Commission under China’s State Council.
The decision comes after years of tariff disputes that affected major industries in both nations. Officials say the suspension is part of efforts to create a more predictable trade environment as global markets continue to face economic pressure.
Along with the tariff suspension on industrial goods, China also said it will ease some tariffs of up to 15% on U.S. agricultural products starting November 10. As the world’s largest buyer of agricultural commodities, China is expected to increase imports of soybeans, corn, and meat. Experts say this could help U.S. farmers recover from reduced sales in recent years, while also helping China manage rising food costs and ensure a stable supply.
The announcement follows a high-level meeting between Chinese President Xi Jinping and U.S. President Donald Trump last week. While no major trade agreement was reached, officials described the talks as positive and focused on reducing tensions in areas such as trade, technology, and regional security.
Analysts say the tariff suspension signals that both countries are looking for ways to prevent further economic strain and avoid a return to the intense trade conflict seen in previous years. However, they also note that long-term progress will depend on continued dialogue and negotiation.
For now, businesses on both sides are expected to welcome the move, hoping it leads to more stable and predictable trade conditions in the coming months.
