In a major step toward easing trade tensions, China has officially suspended its retaliatory tariffs on key U.S. agricultural products, just hours after the United States cut levies tied to fentanyl-related goods imported from China. The announcement was confirmed Wednesday by China’s Ministry of Finance, marking a significant development in the ongoing economic negotiations between the world’s two largest economies.
Beginning Monday at 1:01 p.m., China will lift tariffs first imposed on March 4 on major U.S. farm exports, including soybeans, corn, wheat, sorghum, and chicken. The move is part of a broader agreement between U.S. President Donald Trump and Chinese President Xi Jinping, designed to last one year, and intended to stabilize trade relations after months of escalating back-and-forth measures.
The tariff rollback follows Trump’s signing of two executive orders that cut U.S. tariffs on Chinese exports connected to fentanyl—from 34% to 10%, effective November 10. China responded by mirroring the reduction, suspending its 24% tariff on U.S. agricultural goods for the same duration.
For months, Chinese importers had drastically reduced purchases of American soybeans, turning instead to South American suppliers. But relations began to thaw days before the leaders’ latest meeting, when China resumed buying U.S. soybeans for the first time in months—trade valued at over $12 billion last year.
In its statement, China’s Ministry of Finance said the decision reflects the “fundamental interests of both countries and their people,” adding that the tariff halt meets global expectations and will “help push bilateral economic and trade relations to a higher level.”
The pause in tariffs marks one of the clearest signs yet that both nations are attempting to shift from confrontation to cautious cooperation. While the agreement is temporary, it offers relief to American farmers—many of whom have been heavily impacted by the trade standoff—and signals that further de-escalation may follow if both sides honor the terms of the pact.
Whether this move becomes a turning point or simply a pause in the ongoing economic rivalry will become clearer in the months ahead.