China suspends planned additional tariffs on some US products

Beijing: China suspended the planned additional tariffs on some US products to be implemented at 12:01 p.m. on Dec. 15 (Beijing Time), the Customs Tariff Commission of the State Council said.

The suspension covers the 10-percent and 5-percent additional tariffs, respectively, on the imported products, according to the commission.
Besides, the country 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, according to the commission.

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.

The Chinese side hopes that the two sides will work together on the basis of equality and mutual respect to properly address each other’s core concerns and promote the stable development of Sino-U.S. economic and trade relations, the commission said.