Beijing - Saba:
China announced on Tuesday that it will continue to suspend additional tariffs on some US imports.
The Chinese news agency, Xinhua, reported that the Customs Tariff Commission of the State Council announced the continued suspension of 24 percent additional tariffs on some US imports for 90 days, starting this afternoon, while maintaining the remaining 10 percent tariffs on those goods.
Chinese media quoted the commission as saying that the decision comes within the framework of implementing the understandings reached by the two sides during recent economic and trade talks, and aims to support the development goals of both countries and promote growth and stability of the global economy.
Meanwhile, US President Donald Trump announced a 90-day extension of the trade truce with China, hours before its expiration. The extension was announced by an executive order he signed to maintain the suspension of tariffs until November 10, 2025.
Trump explained via his Truth Social platform that China continues to take important steps to address US concerns on issues related to economic and national security, stressing that all provisions of the previous agreement will remain in place.
Trump's decision comes as part of efforts by Washington and Beijing to ease trade tensions that have escalated recently following the imposition of reciprocal tariffs. The previous agreement stipulated a 30% US tariff on Chinese products, while China imposed a 10% tariff on US products.
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