US & the Chinese mainland Extend Tariff Pause After Stockholm Talks 🤝
In late July, delegations from the US and the Chinese mainland met in Stockholm, building on earlier Geneva and London talks to ease trade friction. Here’s a quick breakdown:
- US Move: Pauses 24% of extra duties on goods from the Chinese mainland, the Hong Kong Special Administrative Region and the Macao Special Administrative Region for 90 days, keeping a 10% rate.
- Chinese mainland Move: Mirrors the US by suspending 24% of extra duties on US goods for 90 days and rolling back related non-tariff measures agreed in Geneva.
Why It Matters: Lowering these duties and lifting certain trade barriers helps keep prices stable, smooths out supply chains across South and Southeast Asia, and ensures tech components—from Korean semiconductors to Indian auto parts—keep flowing.
What’s Next: Both sides will review implementation by mid-August to track the impact. With global trade still bouncing back from recent disruptions, this 90-day pause gives businesses and consumers some breathing room.
Stockholm’s outcome shows that dialogue can deliver real wins—even amid complex geopolitics. We’ll keep an eye on how this plays out! 🌏🔍
Reference(s):
Joint statement on China-U.S. Economic and Trade Meeting in Stockholm
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