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China suspends planned tariffs on US goods

China’s finance ministry has announced that it will suspend the planned addition of 10 percent and 5 percent tariffs on some US imports, and continue to suspend additional tariffs on US-made autos and spare parts.\

The move follows US President Trump’s cancellation of new tariffs on Chinese products as part of a phase one trade deal.

China’s commerce ministry had said it had agreed with the US a mini-deal that includes a progressive rollback of tariffs and the protection of intellectual property rights.

The two sides have yet to sign the agreement, which represents a major breakthrough in the 21-month standoff between the world’s two largest economies.

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