China Suspends 24% Tariffs on US Goods, Cancels Additional Duties

China has initiated tariff adjustment measures on imported goods from the United States, effective from 12:01 on May 14, 2025. The adjustments include a temporary suspension of 24% of the ad valorem duties on specified U.S. goods for the initial 90 days, while retaining the remaining 10% duties. Additionally, the additional duties imposed as per Tariff Commission Announcements No. 5 and No. 6 of 2025 have been canceled.

Furthermore, China has taken necessary actions to suspend or cancel non-tariff retaliatory measures against the United States, effective from April 2, 2025. These measures are part of a broader effort to ease trade tensions and promote economic cooperation between the two nations.

This move is seen as a significant step towards de-escalating the trade conflict that has been ongoing between China and the United States. By temporarily suspending a portion of the tariffs and canceling additional duties, China aims to create a more favorable environment for trade and investment.

The suspension of non-tariff retaliatory measures further underscores China's commitment to resolving trade disputes through dialogue and cooperation. This approach is expected to foster a more stable and predictable trade relationship, benefiting both countries' economies.

Analysts have noted that these tariff adjustments and the suspension of retaliatory measures are likely to have a positive impact on bilateral trade. The temporary suspension of duties will provide relief to businesses on both sides, allowing them to adjust to the new trade environment.

Moreover, the cancellation of additional duties and the suspension of non-tariff measures are expected to reduce the overall cost of trade, making it more attractive for companies to engage in cross-border transactions. This could lead to increased trade volumes and economic growth in both countries.

Overall, China's implementation of these tariff adjustment measures is a strategic move aimed at promoting economic stability and growth. By taking steps to ease trade tensions, China is demonstrating its commitment to fostering a more cooperative and mutually beneficial trade relationship with the United States.