(MENAFN- Kuwait News Agency (KUNA)) BEIJING, Nov 5 (KUNA) -- China announced Wednesday that it is temporarily removing dozens of US companies from its "unreliable entities" and "export control" lists and suspending tariffs of up to 15 percent on some US imports, implementing the outcomes of talks held in Malaysia between the two countries.
In a statement carried by Xinhua News Agency, the Chinese Ministry of Commerce said that China will suspend the ban it imposed on exports of dual-use goods to 31 US entities last March and April for one year, starting next Monday.
It noted that exporters must submit applications to the ministry, which will review and approve those that meet the requirements.
The ministry also decided to suspend for one year the measures it took to add 11 US companies to the "unreliable entities" list last April, and to suspend similar measures announced against another 11 US companies last March.
In a related development, the Customs Tariff Commission of the State Council announced it will suspend the implementation of tariffs it imposed ranging from 10 percent to 15 percent on US imports, including chicken, corn, beef, wheat, soybeans, fruits, and dairy products, effective from November 10.
This announcement comes six days after the summit between Chinese President Xi Jinping and US President Donald Trump in Busan, South Korea, where the two sides agreed to a mutual reduction in tariffs and a postponement of export controls, helping to ease the trade war between the world's two largest economies. (end)
slq

MENAFN05112025000071011013ID1110299064