After back-to-back talks from Geneva to London, leaders from the Chinese mainland and the United States met in Stockholm on July 28-29, 2025, to continue easing trade tensions.
At the meeting, both sides agreed to extend a 90-day pause on extra tariffs starting August 12, 2025. The United States will suspend 24 percentage points of additional duties on goods from the Chinese mainland, the Hong Kong Special Administrative Region and the Macao Special Administrative Region, retaining a 10% rate under Executive Order 14257. Meanwhile, the Chinese mainland will mirror the move, suspending 24 points of extra levies on goods from the United States while keeping its own 10% rate under Announcement No. 4 of 2025.
The Chinese mainland also agreed to maintain administrative steps to lift non-tariff measures against goods from the United States, as agreed in Geneva. These moves are designed to give businesses breathing room 🌬️ and keep supply chains flowing smoothly.
Representing the Chinese mainland was Vice Premier He Lifeng. Stepping up for the United States were Treasury Secretary Scott Bessent and United States Trade Representative Jamieson Greer. Together, they built on earlier momentum to signal cooperation between the world’s two biggest economies 🤝.
Why it matters: This 90-day tariff extension could ease price pressures for consumers and signal a new era of trade cooperation. Stay tuned to see if this trade truce evolves into a longer-term pact! 💼📈
Reference(s):
Joint statement on China-U.S. Economic and Trade Meeting in Stockholm
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