Overview
- The State Council announced the additional 24% tariff on US imports will remain suspended for two months starting Nov. 10 while a baseline 10% levy stays in place.
- China’s transport ministry extended special port fees relief for US-linked vessels until Jan. 10, 2027 and kept a shipping and shipbuilding supply‑chain probe on hold.
- Beijing framed the extensions as carrying out the leaders’ Washington summit agreements and said it will closely watch US steps to replace IEEPA tariffs with Section 301 duties before making further adjustments.
- Negotiators have proposed a reciprocal tariff package worth about US$60 billion, including roughly US$17 billion of US farm goods, but the details and legal fixes in Washington remain unfinished.
- The moves give short‑term predictability for exporters and shippers but do not remove the underlying 10% duty or settle the larger trade package, so markets and businesses should watch US legal changes and progress at the new bilateral trade and investment boards.