China and United States Agree to Suspend Section 301 Measures and Cancel Tariffs

reciprocal countermeasures for the same duration. Additionally, the U.S. will cancel the additional 10% 'fentanyl-related' tariffs on Chinese goods, including those from Hong Kong and Macao, while the 24% countervailing tariffs on Chinese products will remain suspended for another year. China will make corresponding adjustments to its tariffs. Both countries have also agreed to suspend newly announced export control measures for one year and have reached consensus on cooperation in counter-narcotics, agricultural trade expansion, and specific corporate case resolutions. The agreement is expected to stabilize global maritime, logistics, and shipbuilding sectors and represents the most substantial easing of bilateral trade tensions since 2019.