China Extends 24% Tariff Suspension On US Goods For Two Months, Keeps 10% Duty In Place

China on Monday announced a two-month extension of its suspension of an additional 24% tariff on US imports, while retaining the existing 10% duty, as Beijing and Washington continue efforts to stabilise trade relations.

According to China's State Council, the suspension will remain effective for another two months from 1.01 pm local time on Tuesday.

The decision follows discussions between the leaders of China and the US during their September summit in Washington.

China's Transport Ministry separately announced that the suspension of special port fees imposed on US-linked vessels would continue until Jan 10, 2027.

The ministry also confirmed that Beijing would maintain its suspension of an investigation into security concerns involving shipping and shipbuilding supply chains.

Chinese authorities said the measures were intended to implement the understandings reached during the Washington meeting between the two countries' leaders.

Following the September summit, both sides proposed a $60 billion package of reciprocal tariff reductions.

The proposed arrangement included approximately $17 billion worth of US agricultural products imported by China in 2024.

However, the broader trade package has yet to be finalised.

China's State Council Tariff Commission said it would continue monitoring developments in US trade policy before deciding whether further adjustments to its countermeasures were necessary.

The commission referred to Washington's stated intention to replace tariffs imposed under the International Emergency Economic Powers Act (IEEPA) with duties authorised under Section 301 of US trade law.

According to the Chinese statement, the proposed shift follows judicial rulings invalidating certain tariffs imposed under IEEPA.

Beijing indicated that its future response would depend on subsequent measures adopted by Washington.

Chinese authorities maintained that continuing the suspension of selected additional tariffs would provide greater policy stability and predictability for businesses.

They also said the measures could support the development of bilateral economic and trade relations.

The extensions offer temporary relief from additional trade restrictions, although the underlying 10% tariff remains in force.