On March 30, China's Ministry of Commerce announced that China and the United States had agreed to reduce the fentanyl tariff by 10% and postpone the implementation of rare earth export controls, reflecting the outcomes of the China-US summit.
Simultaneously, the United States will extend the suspension of fentanyl tariffs for another year, and China will take corresponding reciprocal measures.
This is a long-term extension of the tariff suspension measure, which was previously extended for 90 days at a time.
