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China and the United States Begin Implementation of Kuala Lumpur Economic and Trade Consultations Consensus
BlockBeats News, November 6th. Recently, China and the United States have successively adjusted multiple tariff or non-tariff measures, beginning to implement the outcomes of the economic and trade consultations between the two sides in Kuala Lumpur. On November 4th local time, the White House issued two consecutive presidential executive orders, announcing that starting from November 10, 2025, the 10% so-called "Fentanyl Tariff" on Chinese goods and the one-year extension of the 24% "Counterpart Tariff" on Chinese goods will be lifted. On the 5th, the Chinese government departments successively issued corresponding adjustment measures. Huo Jianguo, Vice Chairman of the China WTO Research Association, said that the current implementation between the two sides is the first aspect of the consensus outcome, involving the U.S. raising the "Fentanyl Tariff" on March 4th and April 4th and imposing "Counterpart Tariffs" on China, to which China responded with corresponding retaliatory measures. He stated that according to the consensus reached by both sides, the future implementation of Sino-U.S. negotiation outcomes will involve the U.S. "50% Rule of Origin" and trade restrictions related to the 301 investigation in China's maritime, logistics, and shipbuilding industries. It will also include bilateral Fentanyl drug control cooperation and expanding agricultural trade. (Global Times)
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