PVTIME – The United States and China have announced a new agreement to suspend the 24% tariffs imposed on each other’s goods for a further 90 days. This builds on the commitments first outlined in the Joint Statement of the Geneva Economic and Trade Talks in May 2025.
This follows discussions held in London from 9 to 10 June and in Stockholm from 28 to 29 July, during which both sides reviewed progress under the Geneva accord.
The latest arrangements, which are set to take effect on 12 August 2025, see the US continuing to adjust the implementation of the tariffs specified in Executive Order 14257 of 2 April 2025. This includes extending the suspension of the 24% tariff on Chinese goods — which covers products from the Hong Kong and Macao Special Administrative Regions — for 90 days, while retaining the remaining 10% tariff as set out in the order.
Simultaneously, China will modify the application of tariffs detailed in Tariff Commission Announcement No. 4 of 2025, suspending its 24% tariff on US goods for 90 days from 12 August 2025 while retaining the remaining 10% tariff. Furthermore, China has pledged to adopt or maintain the necessary measures to suspend or cancel non-tariff countermeasures against the US, as previously agreed in the Geneva Joint Statement.
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