US government suspends additional tariffs on China until end of 2026

The US will not implement its threatened retaliatory tariffs on Chinese imports until at least November 10, 2026. This is according to a White House summary of the results of the meeting between US president Donald Trump and Chinese president Xi Jinping in South Korea.

The current retaliatory tariff of 10 percent will remain in effect, the US side added. This revealed further details about the recent agreements between the US and China. Xi and Trump met in South Korea on Thursday to discuss the trade conflict between the two largest economies.

Immediately after the meeting, Trump announced that the US will lower the existing tariff rate on goods from China from 20 percent to 10 percent, effective from November 10. The tariff had been introduced as a pressure tactic in the fight against the Fentanyl drug crisis. Trump has repeatedly accused China in the past of being partly responsible for the Fentanyl crisis in the US. Fentanyl is a synthetic opioid that is highly addictive.

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