China extends suspensions of 24% tariff on US goods, port fees on US ships for two months

BEIJING – China on Nov 9 extended the suspension of its additional tariff of 24% on US imports and the suspension of special port fees on US-linked ships for two months.The 24% additional tariff on US imports will continue to be suspended for two months from 1.01 pm Singapore time on Nov 10, but a tariff of 10% will remain, its state council, or cabinet, said.The suspension of special port fees on US-linked vessels will be extended until Jan 10, 2027, China’s transport ministry said in a statement.China is also continuing to suspend a probe into shipping and shipbuilding supply chain security, the ministry said.After September’s Washington summit of their leaders, both sides proposed a US$60 billion (S$76 billion) package of reciprocal tariff cuts, including roughly $17 billion worth of US farm goods that China imported in 2024, though the plan has yet to be finalised.China is extending the tariff suspensions to implement the “outcomes and consensus reached at the Washington meeting between the heads of state of China and the United States”, the council’s tariffs panel said in a statement.China has “noted that the US side has repeatedly stated that it intends to use Section 301 tariffs to replace the tariffs imposed under the International Emergency Economic Powers Act that have been held invalid by judicial rulings” it said.China will “closely follow subsequent measures taken by the US side and will, as appropriate, adjust relevant tariff countermeasures in light of developments,” it added.Continued suspension of some additional tariffs on US goods will help ensure a stable and predictable policy environment for ties and promote development of China-US economic and trade relations, it said. REUTERS