On August 12, China and the United States issued the "Joint Statement of the China-US Stockholm Economic and Trade Talks." The US pledged to continue adjusting its tariff increases on Chinese goods (including goods from the Hong Kong and Macao Special Administrative Regions) and to suspend the implementation of the 24% reciprocal tariff for 90 days starting August 12. China also pledged to continue suspending the implementation of the 24% tariff increase and related non-tariff countermeasures for 90 days starting August 12.

Joint Statement of the China-US Stockholm Economic and Trade Talks

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

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

2. 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, as agreed in the Geneva Joint Declaration.

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