The two leaders held talks in South Korea on the finish of October that successfully extended a fragile truce for a yr, after a number of rounds of commerce negotiations in latest months.
A press release printed Wednesday (November 5, 2025) on the Ministry of Finance web site, citing Beijing’s State Council, stated that “for one year the 24 percent tariff on US goods will continue to be suspended, (and) a 10 percent tariff on US goods will remain”.
The assertion stated the pause follows “the consensus reached in the China-US economic and trade consultations” and can be efficient from November 10.
Mr. Trump on Tuesday (November 4, 2025) formalised an settlement that Washington would reduce its extra tariffs on Chinese imports from 20% to 10%, additionally efficient from November 10.
Temperatures have spiked between the world’s two largest economies this yr as Washington and Beijing imposed escalating tariffs on one another’s merchandise.
At one level, duties on each side reached prohibitive triple-digit ranges, hampering commerce.
The two have been engaged in an uneasy truce since, as prime financial leaders met a number of instances for talks in latest months, with tensions surging over export controls and different points.
Beyond the assertion overlaying the blanket tariffs, China additionally printed a number of statements on Wednesday (November 5, 2025) suspending associated measures hitting completely different sectors.
In certainly one of them, China stated it might “cease implementing the additional tariff measures” imposed in a March order hitting a listing of American farm merchandise.
That transfer was a response to Mr. Trump doubling extra tariffs on Chinese items over Beijing’s dealing with of fentanyl — now again to 10% beginning subsequent week.
Beijing had positioned a further 15% levy on rooster, wheat, corn and cotton imported from the U.S. and a further 10% tariff on American soybeans, pork, beef, dairy and different farm merchandise.
That had damage a key supply of Mr. Trump’s political assist: farmers.
More than half of U.S. soybean exports went to China final yr, however Beijing halted all orders because the commerce dispute deepened.
‘Thawing ties’
In an indication of thawing ties, Chinese Vice-Commerce Minister and key negotiator Li Chenggang hailed “important” agricultural commerce hyperlinks between the international locations throughout a Tuesday (November 4, 2025) assembly in Beijing with representatives from the U.S. farming sector.
“It is hoped the United States can work with China, look at the big picture, create favourable atmosphere for pragmatic cooperation on agriculture and other areas,” Mr. Li stated on the assembly, in keeping with a Wednesday (November 5, 2025) assertion by China’s Commerce Ministry.
Beijing’s Commerce Ministry additionally introduced Wednesday (November 5, 2025) that it might prolong suspensions to export management measures on U.S. entities that had been carried out throughout the tit-for-tat escalation with Washington earlier within the yr.
In one other assertion, the Ministry stated that restrictions would proceed to be suspended for dozens of U.S. defence and aerospace companies.
Those measures had been geared toward limiting U.S. entry to “dual use” gadgets that may very well be used for each civilian and army functions.
Also following talks, Beijing agreed to halt for one yr restrictions on the export of uncommon earths expertise.
Rare earths are a strategic area dominated by China and are important for manufacturing in defence, vehicles and shopper electronics.
Washington in flip agreed to droop for one yr a transfer imposing “Entity List” export restrictions on associates of blacklisted international corporations through which that they had at the least a 50 % stake, the Chinese Commerce Ministry stated.
The United States additionally stated it might halt for a yr measures concentrating on China’s shipbuilding business that led to each side making use of port charges in opposition to one another’s ships, it stated.
In flip, China would droop its “countermeasures” after the US motion, they added, for one yr too.
