China points joint assertion on China-U.S. Financial and Commerce Assembly in Stockholm

The Authorities of the Folks’s Republic of China (“China”) and the Authorities of the US of America (the “United States”), Recalling the Joint Assertion on China-U.S. Financial and Commerce Assembly in Geneva on Might 12, 2025 (“Geneva Joint Assertion”); and Reflecting on their conferences in London on June 9 and 10, 2025, and in Stockholm on July 28 and 29, 2025; The Events recall the commitments below the Geneva Joint Assertion and conform to take the next actions by August 12, 2025:

1. The US will proceed to change the appliance of the extra advert valorem charge of obligation on articles of China (together with articles of the Hong Kong Particular Administrative Area and the Macao Particular Administrative Area) set forth in Govt Order 14257 of April 2, 2025, by suspending 24 share factors of that charge for a further interval of 90 days, beginning on August 12, 2025, whereas retaining the remaining advert valorem charge of 10 p.c on these articles pursuant to the phrases of stated Order.

2. China will proceed to (1) modify the appliance of the extra advert valorem charge of obligation on articles of the US set forth within the Announcement of the Customs Tariff Fee of the State Council No. 4 of 2025, by suspending 24 share factors of that charge for a further interval of 90 days, beginning on August 12, 2025, whereas retaining the remaining extra advert valorem charge of 10 p.c on these articles, and (2) undertake or keep all obligatory administrative measures to droop or take away the non-tariff countermeasures taken in opposition to the US as agreed within the Geneva Joint Assertion.

This Joint Assertion is predicated on the discussions that happened through the China-U.S. Financial and Commerce Assembly in Stockholm, which was held below the mechanism established by the Geneva Joint Assertion. The consultant from the Chinese language facet for this assembly was He Lifeng, Vice Premier of the State Council, and the representatives from the U.S. facet have been Scott Bessent, Secretary of Treasury, and Jamieson Greer, United States Commerce Consultant.