China welcomes U.S. decision of suspending China tariff hike
China welcomes the U.S. decision of suspending the tariff hike of goods imported from China, said the Customs Tariff Commission of the State Council on Saturday.
The Chinese tariff authority said it accepted the statement from U.S. Trade Representative Office, which states that Chinese goods that have been subject to tariffs since September 2018 will maintain a 10-percent tariff rate until further notice.
The U.S. earlier announced a tariff increase of Chinese goods from 10 percent to 25 percent, which was initially scheduled for January 1, but the Trump administration extended the deadline for 90 days after the G20 meeting.
The seventh round of negotiations talks, held between February 21 and 24, saw productive results made on specific issues like technology transfer and protection of intellectual property rights.