China suspends tariffs on US products scheduled to go into effect Sunday

China suspends tariffs on US products scheduled to go into effect Sunday
© istock

China has suspended tariffs on some U.S. goods that had been scheduled to go into effect on Sunday after the two nations reached a “phase one” trade deal, officials said. 

China’s customs tariff commission announced that the retaliatory tariffs would be suspended.

Tariffs on other U.S. goods would be left in place, according to the statement. 

ADVERTISEMENT

The decision was part of the recent trade talks with the U.S., the commission added. 

The announcement comes after Washington and Beijing announced a “phase one” trade deal had been reached on Friday. 

The U.S. is keeping 25-percent tariffs on some $250 billion of Chinese imports, but dropped the rate to roughly 7.5 percent tariffs on another $120 billion in imports, U.S. Trade Representative Robert LighthizerRobert (Bob) Emmet LighthizerGOP senator warns quick vote on new NAFTA would be 'huge mistake' Pelosi casts doubt on USMCA deal in 2019 Pelosi sounds hopeful on new NAFTA deal despite tensions with White House MORE announced. 

The Trump administration also scrapped a new round of 15-percent tariffs scheduled to go into effect Sunday on an additional $156 billion of imports.