Trade War Hits Snooze? China Freezes Extra US Tariffs for Year
President Donald Trump, left, and Chinese President Xi Jinping shake hands before their meeting at Gimhae International Airport in Busan, South Korea, Thursday, Oct. 30, 2025. 
China has announced it is extending a suspension of additional 24% tariffs on US goods for one year.A 10% tariff “will remain,” says a statement published on China’s Ministry of Finance website. The decision follows “the consensus reached in the China-US economic and trade consultations” and is to be effective from November 10. China is also to cease implementing the additional tariff measures of up to 15% imposed in March targeting a list of US agricultural goods. This announcement formalizes the agreement ironed out between the two countries’ leaders, Xi Jinping and Donald Trump, in South Korea. The US released a fact sheet this weekend saying that it would cut its additional tariffs on Chinese imports from 20% to 10%. It noted that China had agreed to suspend the expansive new export controls on rare earths that it announced on October 9—a major pressure point that had spooked the US.
EconomyTariffs Threats is the Wrong Way to Interact with China — Ministry of Commerce12 October, 03:59 GMT
