China Suspends Some Tariffs on U.S. Goods

On Wednesday, China revealed its decision to pause several of its highest retaliatory tariffs against the United States for a year. This development follows the agreement reached during last week’s meeting between President Trump and Chinese President Xi Jinping.

However, U.S. soybean exports will still face a 13% tariff, according to reports, even as Beijing eases some other penalties.

The State Council Tariff Commission of China has stated that starting November 10, it will suspend additional tariffs of 24% on U.S. imports, as communicated by Liu Pengyu, a spokesperson for the Chinese Embassy in Washington, D.C.

It’s important to note that a 10% tariff on goods imported from the U.S. will still be enforced.

On Tuesday, President Trump declared a presidential order to suspend “strengthening reciprocal tariffs” on China until November 10, 2026.

This announcement came after a meeting between the U.S. Agricultural Trade Delegation and Li Chenggang, China’s International Trade Representative and Vice Minister of Commerce, in Beijing on November 4.

During the meeting, Mr. Li accused President Trump of escalating a trade war with China centered on agriculture. He emphasized the need for cooperation instead of confrontation between the two nations.

According to the Chinese embassy, Li remarked, “There is wide scope for cooperation. We hope that the U.S. side will cooperate with China.”

Additionally, the Chinese government has committed to purchasing at least 12 million tons of U.S. soybeans over the last two months of 2025, with plans for at least 25 million tons each year in 2026, 2027, and 2028. This figure aligns with recent annual averages.

China is also set to resume buying U.S. sorghum, hardwood, and softwood logs, as detailed in a fact sheet released after the Trump-Xi meeting.

Other key points include China’s pledges to stop the flow of precursor chemicals used in producing the opioid fentanyl, allow exports of rare earth elements and other vital minerals, cease retaliation against U.S. semiconductor makers and other significant American companies, and open its market to U.S. soybeans and other agricultural products.