China has announced it will suspend its 24 percent additional tariff on US goods for one year while keeping a 10 percent levy in place, the State Council’s tariff commission said on Wednesday.

The decision comes after last week’s meeting between President Xi Jinping and US President Donald Trump, signaling a possible easing of trade tensions between the world’s two largest economies.

The commission also said China — the world’s top agricultural importer — will remove some tariffs of up to 15 percent on US agricultural products starting November 10.