China has announced the extension of its suspension on additional tariffs imposed on United States goods for another year, solidifying a new phase in the trade truce reached between Presidents Xi Jinping and Donald Trump.
The decision, published Wednesday by the Ministry of Finance, follows bilateral talks held in South Korea at the end of October, where both leaders agreed to maintain trade stability amid months of negotiations.
According to the statement, Beijing will continue to suspend the 24% tariff on US goods and maintain a 10% tariff rate for one year, effective November 10, 2025.
The move reflects “the consensus reached in the China–US economic and trade consultations,” the ministry said.
In a reciprocal gesture, President Trump on Tuesday confirmed that Washington would cut additional tariffs on Chinese imports from 20% to 10%, also beginning November 10.
The world’s two largest economies have been engaged in a fragile trade truce after years of escalating tariffs that severely disrupted global markets. The latest deal aims to ease tensions over export controls, rare earth technology, and agricultural trade.
As part of the agreement, China will cease implementing additional tariffs on a range of American farm products — including soybeans, pork, beef, and dairy — while the US will suspend restrictions on certain Chinese firms and shipbuilding entities.
Beijing also confirmed it will pause export limits on rare earth technology for one year, underscoring a shared commitment to stabilizing key supply chains across industries from defence to electronics.
