China to extend tariff suspension on imported U.S. products

BEIJING, Aug. 12 (Xinhua) -- China will continue to suspend 24 percentage points of additional duty rate on imports from the United States by 90 days starting from 12:01 p.m. Tuesday, while retaining the remaining additional tariffs of 10 percent on those articles, according to an announcement from the Customs Tariff Commission of the State Council.

The commission said the extended suspension of certain additional tariffs between China and the United States is a step to further implement the important consensus reached between the two heads of state during their phone talks on June 5.

The move serves the interests of both sides in achieving their respective development goals and will contribute to the development and stability of the world economy, the commission added.