China Suspends Additional Tariff on US for Another Two Months in Response to Similar US Action

· China will extend the suspension of an additional 24 percent tariff on imports from the United States for another two months, while maintaining a 10 percent tariff, the Customs Tariff Commission of the State Council announced on Monday according to a report in the China Daily newspaper.

The adjustment will take effect from 01:01 pm on Tuesday, according to a statement released by the commission.

The move is aimed at implementing the consensus reached during the Washington meeting between the heads of state of China and the US, the statement said. The decision, approved by the State Council, follows relevant Chinese laws and regulations, as well as fundamental principles of international law, the statement added.

The adjustment applies to additional tariffs imposed under a previous announcement issued by the commission in 2025.

Also on Monday, China's Ministry of Transport announced it will continue to suspend the collection of special port fees on US ships and suspend its investigation into the impact on the security and development interests of the shipping and shipbuilding industries and related industrial and supply chains until Jan 10, 2027.

The decision, approved by the State Council, implements the outcomes of the eighth round of China-US economic and trade consultations, according to an announcement released by the ministry.

The suspension involves three documents released in 2025, namely the ministry's announcement on collecting special port fees from US ships, the related implementation measures issued by the ministry's general office, and the ministry's announcement on launching the investigation.

· Canada will extend until June 30, 2028 a program that offers relief on tariffs that Ottawa imposed on some US imports, Finance Minister Francois-Philippe Champagne said in a statement on Monday according to Reuters news service.

The relief applies to imports that are in short supply in the Canadian market such as non-steel goods used in mining, quarrying, or the extraction of oil and gas, he said.

· Japanese Prime Minister Sanae Takaichi and Vietnamese leader To Lam agreed Monday to accelerate efforts to develop concrete cooperation projects involving critical minerals, Jiji news service reported.

In their meeting at the State Guest House in Tokyo's Motoakasaka district, Takaichi and Lam reaffirmed their commitment to strengthening economic security cooperation and agreed to step up collaboration in artificial intelligence and semiconductors.

The two leaders issued a joint statement after the meeting. At a joint press conference, Takaichi said she would “elevate bilateral relations to a new level.” Lam, general secretary of Vietnam's Communist Party and president of the Southeast Asian country, described the two countries as partners who walk together, build the future together and benefit each other.

During the meeting, the leaders exchanged views on the situation in the South China Sea, where China has repeatedly engaged in hegemonic activities, and the situation on the Korean Peninsula. They agreed to deepen cooperation toward realizing Takaichi's vision for an evolved Free and Open Indo-Pacific initiative.