Joint Statement Between the U.S. and China
On August 12, 2025, the United States and China issued a joint statement following their economic and trade discussions in Stockholm. The agreement includes a suspension of additional tariffs for 90 days, allowing both countries to maintain a reduced tariff rate on certain goods while keeping a 10 percent rate on others. This decision builds on commitments made in a prior meeting in Geneva and reflects ongoing efforts to stabilize trade relations between the two major economies.
The U.S. will adjust its tariff application on Chinese goods as specified in Executive Order 14257, while China will similarly modify its tariffs on U.S. goods according to the State Council’s announcement. Both nations have also agreed to suspend non-tariff countermeasures against each other, marking a step toward reducing trade barriers. The discussions were led by high-ranking officials, including U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, highlighting the importance of diplomatic engagement in addressing economic challenges.
The joint statement demonstrates a mutual understanding between the U.S. and China to prioritize dialogue and cooperation in economic matters. By reaffirming commitments made in previous discussions, both countries aim to create a more stable trading environment. This agreement is viewed as a strategic move to mitigate tensions and promote a more collaborative economic relationship moving forward.
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