U.S., China Agree to One-Year Mutual Suspension of Tariffs and Export Controls
The U.S. will remove the 10% "fentanyl tariff" on Chinese goods, including those from Hong Kong and Macau, while maintaining a one-year suspension of 24% reciprocal tariffs, China's Ministry of Commerce said on Oct. 30. The U.S. will suspend its 50% penetration rule for export controls announced Sept. 29 for one year, while China will suspend export control measures announced Oct. 9 for one year. The U.S. will also suspend Section 301 investigation measures on China's maritime, logistics and shipbuilding sectors for one year, with China reciprocating by suspending related countermeasures.

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