China extends suspension of 24% tariff on US imports for two months, retains 10% levy
What happened
China's State Council Tariff Commission announced on Monday, November 9, 2026 that it will maintain the suspension of an additional 24% tariff on US imports for two more months, effective 13:01 on Tuesday, November 10, while retaining a 10% additional tariff. The move was announced by China's finance ministry on its website and reported by Reuters at 02:48 UTC. The extension implements the consensus reached by Presidents Xi Jinping and Donald Trump at their September summit in Washington. Beijing also said it will closely monitor potential US moves to replace tariffs imposed under the International Emergency Economic Powers Act (IEEPA) — which courts have held invalid — with Section 301 tariffs, and adjust its retaliatory measures as appropriate.
Why it matters & what’s next are part of Pro, along with the audio summary.
Start your free 14-day trialWho’s affected
- US exporters to China, especially agriculture (soybeans, corn, wheat, cotton — the farm goods at the center of the $60B package)
- US multinationals with China revenue exposure; broad US equities via reduced trade-war tail risk
- Chinese ADRs and Asia-exposed names. The move is modestly positive for risk sentiment rather than a single-stock catalyst.