China has unveiled a series of measures to implement the trade accord agreed by President Xi Jinping and U.S. President Donald Trump following their recent talks.
In a statement on Wednesday, the Chinese Ministry of Commerce confirmed that the 24 per cent tariffs imposed in April on a range of American imports — and later suspended — would remain paused for another 12 months. It also announced the removal of up to 15 per cent tariffs on selected U.S. agricultural products.
The move follows an October meeting between both leaders in South Korea, where Beijing and Washington agreed to ease trade restrictions. The U.S. will lower its average tariffs on Chinese imports from 57 per cent to 47 per cent, while China will boost soybean purchases and temporarily lift export controls on rare earth materials.
President Trump hailed the outcome as a “fantastic deal,” though trade analysts say significant disagreements remain unresolved, including technology transfers and market access.
