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

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

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