China US Photo:VCG

China on Tuesday issued the Joint Statement on the China-US Economic and Trade Meeting in Stockholm and, following the US announcement that it would extend the deadline for higher tariffs on Chinese goods until November 9, likewise extended its reciprocal tariffs on US goods by 90 days. The expert said the consensus between China and the US is founded on equality and reciprocity, and China will continue to uphold this stance.

US President Donald Trump signed an executive order extending the deadline for higher tariffs on China until November 9, the Wall Street Journal reported on Monday local time, citing a White House official.

To implement the consensus reached in the China-US economic and trade consultations, the Customs Tariff Commission of China's State Council announced on Tuesday that it will modify the additional tariffs on articles of the US set forth in the Announcement of the Customs Tariff Commission of the State Council No. 4 of 2025, by suspending 24 percentage points of that rate for an additional period of 90 days, starting on August 12, 2025, while retaining the remaining additional ad valorem rate of 10 percent on those articles.

The commission's announcement came as China on Tuesday released a joint statement on China-US Economic and Trade Meeting in Stockholm.

According to the Xinhua News Agency, China and US, recalling the Joint Statement on China-US Economic and Trade Meeting in Geneva on May 12, 2025; and reflecting on their meetings in London on June 9 and 10, 2025, and in Stockholm on July 28 and 29, 2025; the parties recall the commitments under the Geneva Joint Statement and agree to take the following actions by August 12, 2025:

The US will continue to modify the application of the additional ad valorem rate of duty on articles of China (including articles of the Hong Kong Special Administrative Region and the Macao Special Administrative Region) set forth in Executive Order 14257 of April 2, 2025, by suspending 24 percentage points of that rate for an additional period of 90 days, starting on August 12, 2025, while retaining the remaining ad valorem rate of 10 percent on those articles pursuant to the terms of said Order.

China will continue to modify the application of the additional ad valorem rate of duty on articles of the US set forth in the Announcement of the Customs Tariff Commission of the State Council No. 4 of 2025, by suspending 24 percentage points of that rate for an additional period of 90 days, starting on August 12, 2025, while retaining the remaining additional ad valorem rate of 10 percent on those articles, and adopt or maintain all necessary administrative measures to suspend or remove the non-tariff countermeasures taken against the US as agreed in the Geneva Joint Statement.

The extension of the tariff suspension shows that China and the US are still seeking to stabilize bilateral economic and trade ties and address specific issues, He Weiwen, a senior fellow at the Center for China and Globalization, told the Global Times on Tuesday.

He stressed that this reflects the equal and reciprocal footing between China and the US-a stance that should be maintained.

Chinese experts stressed that the announcement was made simultaneously in a joint statement by China and the US, with the US extension coming first and China's reciprocal extension following, underscoring China's firm stance on demanding equality.

Following the last London meeting, the China-US Economic and Trade Meeting in Stockholm achieved a significant outcome in extending the pause timeline of tariffs, which creates more favorable conditions for international economic and trade cooperation, particularly for discussions between China and the US on next steps to reach consensus, Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Tuesday.

The current international trade environment is undergoing dramatic changes. Only by promoting mutually beneficial cooperation and establishing institutional frameworks can the two countries provide more effective support for businesses, markets, and global economic and trade cooperation, as well as instill sufficient confidence in the market, Zhou noted.

The recent developments indicate that the US is less able to withstand the impact of tariffs, leaving it with neither the capacity nor the option to reinstate them, making an extension the only course of action, according to He.

He said the 90-day extension is a positive but limited step for the US, adding that the tariffs should be removed altogether.

The US' approach, he noted, should comply with World Trade Organization (WTO) rules, serve the interests of businesses in both China and the US, and provide stable expectations for trade and cooperation, rather than creating ongoing uncertainty through short-term extensions.

Commenting on a media query about the export control list, as the China-US Joint Statement in Stockholm stated that China will take or maintain necessary measures to suspend or remove non-tariff countermeasures against the US, a Ministry of Commerce (MOFCOM) spokesperson said on Tuesday that MOFCOM had issued Announcements No. 21 and No. 22 on April 4 and April 9, 2025, adding 28 US entities to the export control list and prohibiting the export of dual-use items to them in accordance with relevant export control laws and regulations.

To implement the consensus reached at the China-US high-level economic and trade talks, effective August 12, 2025, measures targeting 16 US entities listed on April 4 will remain suspended for 90 days, while measures against 12 US entities listed on April 9 will be terminated.

The spokesperson added that exporters wishing to supply dual-use items to these entities must apply to MOFCOM under the relevant export control regulations. Applications will be reviewed according to law, and permits will be granted to those meeting the requirements.