China extends suspension of 24% tariff on US goods and port fees on US ships
SPY•China extended the suspension of its additional 24% tariff on US imports for two months, while a 10% tariff remains. It also extended the suspension of special port fees on US-linked vessels until January 10, 2027.
1. Tariff suspensions extended
China extended the suspension of its additional 24% tariff on US imports for two months from 1:01 p.m. on Tuesday, while a 10% tariff will remain, the State Council said.
2. Port fees and negotiations
The suspension of special port fees on US-linked vessels will continue until January 10, 2027, and China is also continuing to suspend a probe into shipping and shipbuilding supply chain security, its transport ministry said. The tariff panel said the extensions implement outcomes and consensus reached at the Washington meeting between the two countries' leaders.
3. Trade measures remain uncertain
After the leaders' September summit, both sides proposed a $60 billion package of reciprocal tariff cuts, including roughly $17 billion in US farm goods imported by China in 2024, but the plan has not been finalised. China said it would follow subsequent US measures and adjust relevant tariff countermeasures as appropriate.
