Beijing: China has announced new measures to implement the trade agreement reached between President Xi Jinping and U.S. President Donald Trump, following their meeting.
The Commerce Ministry announced on Wednesday that the additional 24 per cent tariffs introduced in April on certain U.S. imports, which were subsequently paused following several rounds of negotiations, would remain in place for another year.
Additionally, tariffs of up to 15 per cent on selected U.S. agricultural products will be eliminated.
At their meeting in late October, the United States and China agreed to ease trade restrictions between the two countries.
Washington is to lower average import tariffs on Chinese goods from 57 per cent to 47 per cent, while Beijing pledged to boost U.S. soybean purchases and suspend specific export controls on rare earth elements for one year.
