- Tariff Reductions and Suspensions: Effective November 10, 2025, the US will reduce tariffs on Chinese imports by 10 percentage points while maintaining a 10% tariff during a one-year suspension period. This includes extending certain Section 301 tariff exclusions until November 10, 2026.
- China’s Trade Commitments: China will suspend retaliatory tariffs on various US agricultural products, commit to purchasing significant quantities of US soybeans through 2028, and ease export controls on rare earth elements, enhancing access for US businesses.
- Business Implications and Actions: Companies reliant on critical minerals and agriculture should prepare for improved access and significant purchasing commitments, reassess logistics and contracts, and engage compliance teams to navigate new licensing requirements and monitor guidance from US agencies regarding the implementation of these changes.
Source EY
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