China confirms suspension of 24% tariff on U.S. goods, retains 10% levy

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China confirms suspension of 24% tariff on U.S. goods, retains 10% levy

Christmas decorations made overseas in China, Cambodia and Vietnam are displayed for sale, as the U.S. Supreme Court is set to consider the legality of U.S. President Donald Trump's global tariffs, in Richmond, California, on Nov. 4. [REUTERS/YONHAP]

Christmas decorations made overseas in China, Cambodia and Vietnam are displayed for sale, as the U.S. Supreme Court is set to consider the legality of U.S. President Donald Trump's global tariffs, in Richmond, California, on Nov. 4. [REUTERS/YONHAP]

 
China will suspend its 24 percent additional tariff on U.S. goods for one year but retain a 10 percent levy, the State Council's tariff commission said on Wednesday, following last week's meeting between President Xi Jinping and U.S. President Donald Trump.
 
The commission also announced China, the world's top agricultural buyer, will lift some tariffs of up to 15 percent on U.S. agricultural goods from Nov. 10. 
 

 

Reuters
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