The US and China Once Again Suspend 24% Tariffs for 90 Days

BlockBeats News, August 12th, Joint Statement of the U.S.-China Stockholm Economic and Trade Talks: 1. The United States will continue to amend the implementation of ad valorem tariffs on Chinese goods (including goods from the Hong Kong Special Administrative Region and the Macao Special Administrative Region) specified in Executive Order 14257 of April 2, 2025, suspending once again the implementation of a 24% tariff for 90 days starting from August 12, 2025, while retaining the remaining 10% tariff on these goods as stipulated in the executive order.

2. China will continue to (1) amend the implementation of ad valorem tariffs on U.S. goods specified in Tax Commission Announcement No. 4 of 2025, suspending once again the implementation of a 24% tariff for 90 days starting from August 12, 2025, while retaining the remaining 10% tariff on these goods; and (2) in accordance with the Geneva Joint Statement, take or maintain necessary measures to suspend or cancel non-tariff retaliatory measures against the United States. (FX168)