China Will Extend U.S. Tariff Suspensions for Two Months as Trump Visit Looms — Update

China will continue the suspension of 24% additional tariffs on the U.S. for another two months, while retaining a 10% blanket levy on goods.

The announcement comes just days ahead of a meeting between President Trump and Chinese leader Xi Jinping in Shenzhen next week.

The decision aligns with the consensus reached between the two leaders in Washington in September, the Customs Tariff Commission of the State Council said, and takes effect at 1:01 p.m. local time on Tuesday.

Separately, the Chinese transportation ministry announced it would extend the suspension of special port fees on American ships until Jan. 10. Authorities will also halt a related industry security investigation against the U.S. for two months, according to a statement.

Meanwhile, the commerce ministry said it would continue suspending some trade restrictions against U.S. entities for two months. It would also temporarily halt countermeasures against five U.S.-linked subsidiaries of South Korean shipbuilder Hanwha Ocean for the same period, adding that all decisions take effect Tuesday.

During September's leadership summit, Beijing and Washington agreed to extend their tariff ceasefire into early next year, prolonging a truce initially struck last October that had been scheduled to expire Nov. 10.

Following the Democrats' strong win in the U.S. midterms last week, there has been some speculation over whether the shift in the balance of power in Washington could affect the uneasy detente forged by Trump and Xi.

Economists at Citi believe the trade status quo is likely to hold, noting that affordability politics strengthens the case for reciprocal tariff cuts on non-sensitive goods.

"Democrats' climate and energy agenda should also benefit China's green-tech supply chains, if indirectly," Citi's Xiangrong Yu and Xinyu Ji wrote in a note. "As U.S. politics grow more complicated, China's agricultural purchases carry more weight, keeping the tail risk of tariff escalation at bay."

Economists expect no major breakthroughs on trade issues from the two leaders' third round of talks in Shenzhen. Instead, attention is turning toward a potential trilateral meeting between Trump, Xi, and Russian President Vladimir Putin later this month to discuss the wars in Ukraine and Iran.

Beyond the Shenzhen meeting, focus is also on next month's Central Economic Work Conference, where Chinese policymakers will chart a course for an economy dogged by sluggish domestic demand.

Last week, the State Council pledged to carefully study the approach for next year's economic work and to "strengthen the continuity of policies across years."

Those remarks suggest "some of the funding resources available this year may be spent early next year to ensure growth stability since the 2026 growth target appears within reach," Goldman Sachs economists said in a recent note.

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(END) Dow Jones Newswires

November 09, 2026 04:25 ET (09:25 GMT)