US to cancel 10% so-called 'fentanyl tariffs,' suspend 24% reciprocal tariffs against China for a year: MOFCOM

By Global Times Published: Oct 30, 2025 03:10 PM

China's Ministry of Commerce (MOFCOM) announced on Thursday that the US will cancel the 10-percent so-called "fentanyl tariffs" and suspend the 24-percent reciprocal tariffs levied on Chinese goods for a year, while China will adjust countermeasures against related US tariffs accordingly.

The announcement unveiled the outcomes achieved by Chinese and US delegations during their recent economic and trade talks in Kuala Lumpur.

According to a MOFCOM spokesperson, the US side will cancel the 10-percent so-called "fentanyl tariffs" and suspend, for an additional year, the 24-percent reciprocal tariffs levied on Chinese goods, including goods from the Hong Kong Special Administrative Region and the Macao Special Administrative Region.

China will make corresponding adjustments to its countermeasures against the US tariffs, the spokesperson said, noting that both sides have agreed to continue extending certain tariff exclusions.

The US will suspend for one year the implementation of a new rule announced on September 29 that expands its "entity-list" export restrictions to any entity that is at least 50 percent owned by one or more entities on the list. China will suspend the implementation of relevant export control measures announced on October 9 for one year and will study and refine specific plans, the spokesperson said.

The US will suspend the implementation of measures under its Section 301 investigation targeting China's maritime, logistics and shipbuilding industries for one year. In response, China will correspondingly suspend the implementation of its countermeasures against the US for one year once the US suspension takes effect, according to the spokesperson.

In addition, the two sides also reached consensus on issues including anti-drug cooperation on fentanyl, expanding agricultural product trade, and the handling of individual cases involving relevant enterprises, according to the spokesperson.

Both sides further confirmed the outcomes of the Madrid economic and trade talks. The US side made positive commitments in areas such as investment, and China will properly resolve issues related to TikTok with the US side, the spokesperson said.

The China-US economic and trade talks in Kuala Lumpur have yielded positive results, demonstrating that by upholding the spirit of equality, respect and mutual benefit, and through dialogue and cooperation, the two sides can find solutions to problems, the spokesperson said.

Noting that the outcomes are hard-won, the spokesperson said that China looks forward to working with the US to jointly ensure the implementation of the outcomes, and inject more certainty and stability into bilateral economic and trade cooperation as well as the world economy.

The outcomes achieved through rounds of China-US economic and trade consultations were hard-won, fully demonstrating that the essence of bilateral relations is mutually beneficial and win-win. These outcomes have not only promoted the common prosperity of the two economies but also injected certainty into the stability of global industrial chains, said Ying Pinguang, dean of the School of Trade Negotiations at Shanghai University of International Business and Economics, on Thursday.

After decades of development, China-US economic and trade relations have formed a pattern of deep integration and complementary strengths, Ying said.

Imposing additional tariffs does nothing to alleviate the US trade deficit; instead, it disrupts global industrial and supply chains, triggers strong backlash in the domestic and international markets, and generates multiple negative effects, leading to the spread of panic among global investors, Ying said.

Ying noted that the path to resolving China-US economic and trade frictions lies not in high tariff walls but at the negotiating table. "China-US economic and trade cooperation is not only the ballast of bilateral relations but also the cornerstone of global economic stability," the expert added.

https://www.globaltimes.cn/page/202510/1346945.shtml