China initiated tariff adjustments on US imports following a mutual agreement with Washington to implement a 90-day suspension of punitive duties after talks in Geneva.
China began implementing tariff adjustments on US products starting at 12:01 p.m. Beijing time (0401GMT) on Wednesday, in accordance with an agreement reached with the United States during recent trade talks in Geneva, Xinhua News Agency reported.
The Customs Tariff Commission of the State Council announced that it would suspend 24 percentage points of the additional ad valorem duty on specified US goods for an initial period of 90 days, while maintaining a 10% rate on those same items.
Additionally, Beijing has removed the modified additional duties previously imposed on April 9 and 11.
The decision follows a joint announcement by Beijing and Washington on Monday, confirming a temporary rollback of reciprocal tariff measures after a series of intensive negotiations.
The Geneva talks were prompted by President Donald Trump’s decision to raise tariffs on Chinese imports to 145%, which led China to retaliate with 125% duties on American goods.
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China is set to eliminate tariffs for all 53 African countries it has diplomatic ties with, offering duty-free access not just to the poorest nations but also to middle-income economies.
The European Union and Britain reached a landmark agreement Wednesday to ease border crossings in Gibraltar, ending years of uncertainty over the territory’s post-Brexit status.
Kazakhstan and the European Union are bolstering their economic partnership, with a recent high-level meeting paving the way for expanded collaboration in trade, investment, and sustainable development.
The European Commission confirmed on Thursday it will postpone the implementation of new international banking regulations by a year, citing concerns over global alignment and competitiveness.
Kazakh Tourism National Company has introduced a draft concept to transform the historic Baikonur cosmodrome into a future-focused destination for scientific and industrial tourism. The plan aims to attract visitors year-round, beyond just the times of rocket launches.
China is set to eliminate tariffs for all 53 African countries it has diplomatic ties with, offering duty-free access not just to the poorest nations but also to middle-income economies.
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