China Suspends US Tariffs, Unreliable Entity List Restrictions
China said it will continue to suspend retaliatory tariffs against the U.S., as well as its addition of dozens of U.S. companies to the country’s unreliable entity list, after President Donald Trump announced that the U.S. would be delaying reciprocal tariffs against Beijing for 90 days.
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The Chinese duties, which were set to impose a 24% additional tariff rate on U.S. goods beginning Aug. 12, will be suspended for three months, according to an unofficial translation of a notice that day from China’s Tariff Commission of the State Council. Beijing will instead maintain an additional 10% tariff rate on the U.S., according to a joint statement released Aug. 11 by the two sides.
China’s Ministry of Commerce also said it’s delaying April measures that placed trade restrictions on a range of American aerospace, defense and technology companies (see 2504090017 and 2504040024), a move that will help the two countries “implement the consensus” reached during recent trade talks. Chinese firms “may apply to conduct transactions with” the companies, a ministry spokesperson said. Beijing “will review the applications in accordance with the law and approve those that meet the requirements.”
Companies on China’s unreliable entity list normally are blocked from participating in import and export activities in China. In May, Beijing suspended some of those measures for 90 days (see 2505150022).