Joint Statement on U.S.-China Economic and Trade Meeting in Stockholm

Summary:
The United States and China reaffirm commitments made in the Geneva Joint Statement and announce synchronized 90-day extensions of tariff-rate suspensions starting August 12, 2025. Both sides retain a 10% additional ad valorem rate while suspending 24 percentage points of previously heightened tariffs to sustain ongoing talks and de-escalate trade tensions.

Key Points:

• U.S. action: Continues to suspend 24 percentage points of the additional tariff rate under EO 14257 for 90 days beginning August 12, 2025, keeping a remaining 10% ad valorem rate in place.
• China action: Continues to suspend 24 percentage points of additional tariffs on U.S. goods for 90 days from August 12, 2025; commits to maintain the suspension/removal of agreed non-tariff countermeasures.
• Context: Builds on the Geneva Joint Statement (May 12, 2025) and subsequent meetings in London (June 9–10) and Stockholm (July 28–29).
• Participants: He Lifeng (Vice Premier, PRC), Scott Bessent (U.S. Treasury Secretary), Jamieson Greer (U.S. Trade Representative).

Implications:

• Maintains a negotiated pause that preserves leverage (10% rate remains) while enabling further discussions on reciprocity and non-tariff issues.
• Sets a defined window for progress, signaling continuity in the de-escalation track.