Joint Statement of the China-US Stockholm Economic and Trade Talks: China and the United States suspend some tariffs on each other for 90 days

PANews reported on August 12 that according to Jinshi Data, citing information from the Ministry of Commerce, taking into account the London talks on June 9-10, 2025, and the Stockholm talks on July 28-29, 2025; the two sides recalled the commitments made under the Geneva Joint Declaration and agreed to take the following measures before August 12, 2025:

1. The United States will continue to modify the implementation of the additional ad valorem tariffs on Chinese goods (including goods from the Hong Kong Special Administrative Region and the Macao Special Administrative Region) as stipulated in Executive Order No. 14257 of April 2, 2025, and will again suspend the application of the 24% tariff for 90 days starting on August 12, 2025, while retaining the remaining 10% tariff imposed on these goods as stipulated in the Executive Order.

II. China will continue to (i) amend the implementation of the ad valorem tariffs on U.S. goods as provided for in Tax Commission Announcement No. 4 of 2025, suspending the 24% tariff for another 90 days starting on August 12, 2025, while retaining the remaining 10% tariff on these goods; and (ii) take or maintain necessary measures to suspend or cancel non-tariff countermeasures against the United States in accordance with the Geneva Joint Declaration.