China-U.S. Joint Statement: Suspension of 24% Tariff Again for 90 Days

In the joint statement of the China-US Stockholm Economic and Trade Talks, the two sides announced that they would suspend the implementation of the 24% tariff again for 90 days starting from August 12, 2025, while retaining the remaining 10% tariff imposed on these goods.my country will also take or maintain necessary measures and suspend or cancel non-tariff countermeasures against the United States in accordance with the Geneva Joint Statement.

The original statement is as follows:

The Government of the People's Republic of China ("China") and the Government of the United States of America ("United States"),

Recalling the Joint Statement on the China-US Geneva Economic and Trade Talks ("Geneva Joint Statement") reached on May 12, 2025;

and taking into account the London talks between the two parties 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 by August 12, 2025:

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

2. China will continue to (1) amend the implementation of additional ad valorem tariffs on U.S. goods stipulated in Tax Commission Announcement No. 4 of 2025,The 24% tariff will be suspended again for 90 days starting from August 12, 2025, while the remaining 10% tariff imposed on these goods will be retained;and (2) take or maintain necessary measures to suspend or cancel non-tariff countermeasures against the United States as agreed in the Geneva Joint Declaration.

This joint statement is based on the discussions at the Stockholm Economic and Trade Talks between China and the United States. This meeting was held under the institutional framework established by the Geneva Joint Declaration. The Chinese representative is Vice Premier He Lifeng, and the U.S. representatives are Treasury Secretary Scott Bessant and U.S. Trade Representative Jamison Greer.