China has suspended the planned additional tariffs on some U.S. products, which were meant to be implemented today Dec 15.
According to the Customs Tariff Commission of the State Council, the suspension covers the 10-percent and 5-percent additional tariffs, respectively, on the imported products.
China will continue to suspend its additional tariffs on American-made vehicles and auto parts.
The decisions were made to implement the results of recent trade talks between the two sides and in accordance with China’s laws and regulations on customs, foreign trade and tariffs as well as the basic principles of international laws.
The two countries agreed on the text of a phase one economic and trade agreement on Friday.
Other additional tariff measures will continue to be implemented as stipulated and work on tax exemptions for imports from the United States will continue to proceed.