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US sets yearlong delays on China tariffs, trade restrictions

( November 1, 2025, 17:11 GMT | Official Statement) -- MLex Summary: The White House announced a reduction of China's tariff rate by 10 percentage points, bringing the overall rate on Chinese goods to about 47 percent, while maintaining a one-year suspension of high tariffs on Beijing, starting from Nov. 10. Also beginning Nov. 10, the US will delay for a year a final interim rule on export control and licensing restrictions and Section 301 duties on Chinese ships, while implementing a yearlong extension of the expiration of certain Section 301 tariff exclusions. The White House also said China agreed to a yearlong delay of export controls on rare earth and critical minerals and to the removal of counter-actions such as ship fees and semiconductor investigations, along with tariff and non-tariff measures. Additionally, the country has agreed to purchase 12 million metric tons of US soybeans in the last two months of 2025 and 25 million metric tons in each of 2026, 2027 and 2028, along with commitments to buying US sorghum and hardwood logs.Fact sheet follows:...

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