China extends trade truce with US for two months

China has postponed the introduction of additional 24% tariffs on US goods for another two months. The decision was announced in a statement by the Customs Tariff Commission of China’s State Council, Bloomberg reports.

China will maintain its general tariff on US imports at 10%. Special fees on US vessels calling at Chinese ports will also remain suspended until January 10.

In addition, China’s Ministry of Commerce has suspended trade and export restrictions on 27 US companies for two months, along with sanctions against the US subsidiaries of major South Korean shipbuilder Hanwha Ocean Co.

The changes follow an agreement reached between Presidents Donald Trump and Xi Jinping in September. At that time, the two sides agreed to extend the trade truce, which had been scheduled to expire on November 10, and suspend their reciprocal 24% tariffs while maintaining the 10% tariff rate.

Метки: Китай, США