China confirms suspension of 24% tariff on US goods, retains 10% levy

China will suspend its 24% additional tariff on US goods for one year but retain a 10% levy, the State Council's tariff commission said on Wednesday, following last week's meeting between President Xi Jinping and US President Donald Trump, Report informs via Reuters.

The commission also announced China, the world's top agricultural buyer, will lift some tariffs of up to 15% on US agricultural goods from November 10.