China extends 24% US tariff pause, keeps 10% levy

On Monday, China extended for two more months its suspension of an additional 24% tariff on US imports, starting at 1:01 p.m. Beijing time on Tuesday, November 10. The 10% tariff stays in place, Reuters reported, citing the State Council. The Transport Ministry said in a separate statement that it is also extending its suspension of special port fees on US-linked ships until January 10, 2027, according to Reuters.reuters.com+1

These steps formalize what Presidents Donald Trump and Xi Jinping agreed in September, when they pushed their trade truce into early next year. The truce had been set to expire on November 10, Bloomberg reported.bloomberg.com

A warning on Section 301

The State Council's tariff commission said the extension carries out the "outcomes and consensus reached at the Washington meeting" between the two leaders. It also said Beijing has "noted that the US side has repeatedly stated that it intends to use Section 301 tariffs to replace the tariffs imposed under the International Emergency Economic Powers Act (IEEPA) that have been held invalid by judicial rulings," Reuters reported. China will "closely follow subsequent measures taken by the US side and will, as appropriate, adjust relevant tariff countermeasures," the commission added.fidelity.com

Washington took similar steps last week. In notices issued on Friday, the Office of the US Trade Representative extended 178 exclusions from Section 301 tariffs on Chinese goods. It also kept measures aimed at China's maritime and shipbuilding sectors suspended through January 9, 2027, according to state-run Global Times. Global Times added that the Commerce Department pushed back a rule expanding export controls to affiliates of listed entities to January 10, 2027.globaltimes.cn

Truce origins and open issues

The arrangement goes back to October 2025, when Trump and Xi met in Busan, South Korea. Both sides agreed to suspend their mutual 24% levies while leaving the 10% rate in place, Bloomberg reported. After the leaders' summit in Washington in September, the two sides proposed a $60 billion package of reciprocal tariff cuts. It includes roughly $17 billion worth of US farm goods China imported in 2024, but it has not been finalized, Reuters said.investing.com+1

APEC summit ahead

The extension comes ahead of the Asia-Pacific Economic Cooperation summit, set for November 18 and 19 in Shenzhen. On Sunday, Trump said he expects to meet Xi there and possibly Russian President Vladimir Putin, Reuters reported. On Friday, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer held what both sides called a "frank" call with Vice Premier He Lifeng about the past year's trade commitments, Kuwait Times reported.reuters.com+1

Analysts at investingLive said the move keeps things as they are rather than easing trade further. Whether the truce grows beyond that may depend on progress in Shenzhen on tariffs, export controls and farm purchases.investinglive.com