BlockBeats News, October 30th, a spokesperson for the Ministry of Commerce answered questions on the China-US Kuala Lumpur Economic and Trade Dialogue Joint Arrangement. The spokesperson stated: The US will cancel the 10% so-called “Fentanyl Tariff” on Chinese goods (including goods from the Hong Kong Special Administrative Region and Macao Special Administrative Region), and the 24% retaliatory tariff on Chinese goods (including goods from the Hong Kong Special Administrative Region and Macao Special Administrative Region) will continue to be suspended for one year. China will adjust its retaliatory measures against the above-mentioned US tariffs accordingly. Both sides agreed to extend some tariff exclusion measures.
The US will suspend the implementation of its September 29th export control 50% de minimis rule for one year. China will suspend the implementation of relevant export control measures announced on October 9th for one year, and will research and refine specific plans. The US will suspend its Section 301 investigation measures on China’s maritime, logistics, and shipbuilding industry for one year. After the US suspends its relevant measures, China will also suspend its retaliatory measures against the US for one year. (Golden Finance)
