In a move that’s got economists fist-bumping 📈, China and the U.S. just agreed to extend tariff relief for 90 days starting August 12, 2025. The deal, struck during high-stakes talks in Stockholm, keeps 10% tariffs on select goods but suspends an additional 24% – a temporary truce in the long-running trade saga.
What’s in the Deal?
🇺🇸 The U.S. will ease tariffs on Chinese goods (including those from Hong Kong and Macao SARs), while 🇨🇳 China reciprocates by adjusting duties on American imports. Both sides also pledged to "adopt necessary measures" to roll back non-tariff countermeasures – think fewer trade roadblocks for businesses.
Why It Matters
This isn’t just about tariffs – it’s a strategic timeout for two global heavyweights. For young professionals and entrepreneurs, it signals smoother cross-border trade flows. Students tracking geopolitics, take note: this builds on May’s Geneva agreement and June’s London meetings, showing both nations are (slowly) dancing toward common ground.
Vice Premier He Lifeng represented China, while U.S. Treasury Secretary Scott Bessent and Trade Rep Jamieson Greer led American negotiations. No TikTok bans were discussed 🚫📱, but the vibe? Cautious optimism.
