Overview
- Both countries said the revised tariff rates will take effect on November 10.
- China's finance ministry confirmed the one-year extension of the 24% tariff suspension and the retention of a 10% tariff on certain U.S. goods.
- Beijing will remove tariffs of up to 15% on some U.S. agricultural products, including soybeans.
- The United States has formalised a reduction of its additional tariffs on Chinese imports from 20% to 10%.
- Market reaction showed partial relief as Asian stock losses narrowed and yen gains eased following the announcements.