The Chinese Government has decided to extend for another two months the suspension of the additional tariff rate of 24% applied to imports of goods from the United States. However, the 10% surcharge on U.S. products remains in force, as this Monday the Tariffs Commission of the State Council of China has communicated.
According to the agency, the measure, approved by the Beijing Executive, will begin to be applied at 13:01 (local time) this Tuesday and entails a temporary modification of the provisions set out in the tariff regulations planned for 2025. The commission has explained that this adjustment falls within the understandings reached by Chinese President Xi Jinping and his U.S. counterpart, Donald Trump, during their most recent bilateral meeting held in Washington.
In the official statement, Chinese authorities emphasize that the extension of this tariff pause aims to "provide a relatively stable and predictable regulatory environment" for business cooperation between both powers and to promote a "stable and positive" development of bilateral economic ties.
Even so, the Beijing Executive stresses that it will continue to closely monitor Washington’s decisions, after having taken note of the intention of the U.S. Administration to replace tariffs considered invalid under the International Emergency Economic Powers Act (IEEPA, for its English acronym) with new levies. In this context, China insists that it will adjust its retaliatory tariff countermeasures in a timely manner based on future decisions adopted by the White House.