China extends 24% US tariff suspension by 2 months

ANI China will extend its suspension of an additional 24% tariff on US goods by two months from November 10, while retaining the existing 10% duty, Reuters reported, citing an official statement by the finance ministry. The ministry said the suspension would take effect at 1:01 pm on Tuesday. The move extends a tariff arrangement between the world's two largest economies, under which Beijing had kept the higher duties on American imports on hold while maintaining the 10% levy. The latest decision follows an agreement announced in November last year, when China said it would suspend the additional 24% tariffs on US goods for one year, effective November 10, 2025. The announcement formalised an understanding reached between US President Donald Trump and Chinese President Xi Jinping during their meeting in South Korea in late October 2025. Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel ) Read More News on China tariffs trade suspension tariff extension China finance ministry US China trade relations Trump Xi meeting tariff agreement donald trump (You can now subscribe to our Economic Times WhatsApp channel ) Read More News on China tariffs trade suspension tariff extension China finance ministry US China trade relations Trump Xi meeting tariff agreement donald trump Explore More Stories Sass Jordan cause of death: How did ‘Racine’ singer die after cancelling shows over ‘serious medical condition’? Canadian rock singer Sass Jordan, voice behind ‘Make You a Believer’ and ‘Tell Somebody,’ dies at 63 Helicopter crash on Montreal’s South Shore leaves 4 dead; Transport Minister expresses condolences as probe begins Nova Scotia teacher charged with sexually assaulting student at school as police identify more victims Nova Scotia Crime: Teacher faces multiple serious charges, prohibited from public places after alleged assaults at Riverton school Psychology explains why people who dislike being interrupted may be protecting more than just their train of thought Powerball jackpot climbs to $313 million for September 21 drawing - Here's what Monday night's winner could take home Quote of the Day by Malala Yousafzai: ‘One child, one teacher, one book, one pen can…’ - How one person can spark global change with the simplest tools Quote of the Day by Thomas Mann: ‘Whoever loves the more is at a disadvantage and must suffer’ - Nobel-winning novelist on why the person who care more may have more to lose Quote of the Day by Anton Chekhov: ‘Every happy man should have someone with a little hammer at his door to knock and remind him that there are unhappy people, and…’ Gary Myers death: NASCAR legend dies at 76; sons mourn ‘hero’ who shaped four generations of racing Quote of the day by Rita Wilson: ‘Be fearless in trying new things, whether they are physical, mental…’ – Sleepless in Seattle actress on turning fear into growth Manager keeps booking 4:45 PM Friday meetings despite team logging off at 5, employee calls it a ‘Friday ambush’ and asks if it’s a power move 1 2 3