China Suspends Retaliatory Tariffs on U.S. Farm Goods
Retaliatory Tariffs Suspended
China on Wednesday announced it will suspend some of its highest retaliatory tariffs on U.S. farm goods for one year, reflecting a truce reached between President Trump and President Xi Jinping. American exports of soybeans to China will remain under a 13 percent tariff, even as Beijing moves to reduce other penalties.
Details of the Suspension
Effective from November 10, China’s Customs Tariff Commission will suspend a 24 percent additional tariff rate on certain U.S. imports. However, a 10 percent additional tariff rate will still be maintained.
Implications of the Agreement
Trump announced an executive order to suspend “heightened reciprocal tariffs” on China until November 10, 2026. This announcement follows discussions on November 4 in Beijing involving a U.S. agricultural trade delegation and China’s International Trade Representative.
- China agreed to purchase at least 12 million metric tons of U.S. soybeans between now and December 2025.
- Additionally, commitments include resuming purchases of U.S. sorghum and logs.
- China also pledged to stop the flow of chemicals used in fentanyl production.
These developments could signify a shift towards greater U.S.-Sino cooperation in trade relations, as emphasized by Li Chenggang, Vice Minister of Commerce.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.