According to the “China-US Stockholm Economic and Trade Talks Joint Statement” jointly released by China and the United States on August 12, 2025,
the two countries reached a new phased agreement on tariff issues, with the core content and background as follows:
Bilateral 90-day suspension of 24% tariffs
1. US actions
• Amend Executive Order No. 14257 dated April 2, 2025, to suspend the 24% ad valorem tariffs imposed on Chinese goods (including Hong Kong and Macau) from August 12 for 90 days.
• Retain the remaining 10% tariffs.
2. Chinese actions
• Simultaneously suspend the 24% tariffs imposed on US goods for 90 days, while retaining the remaining 10% tariffs.
• Suspend or cancel non-tariff countermeasures against the US (such as technology export restrictions, market access barriers, etc.), fulfilling the commitments of the Geneva Joint Statement.
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The 90-day window period will reduce trade costs for bilateral enterprises, particularly benefiting tariff-sensitive industries such as machinery, electronics, and chemicals.
Both sides retain a 10% “baseline tariff,” indicating limited mutual trust, with future negotiations likely focusing on remaining tariffs and structural issues.
