China and the United States to Extend Suspended 24% Reciprocal Tariffs and Countermeasures for 90 Days

Between July 28 and 29 local time, He Lifeng—Vice Premier of China’s State Council and chief representative for China-U.S. economic and trade affairs—met with U.S. The meetings featured open, detailed, and constructive discussions covering economic and trade relations between China and the United States, macroeconomic policy coordination, and other shared economic concerns. Both delegations reviewed the consensus reached during the Geneva trade discussions and assessed the ongoing implementation of the London framework. As part of the outcome, the two sides agreed to extend for 90 days the suspended 24% reciprocal tariffs previously imposed by the U.S., as well as China’s corresponding countermeasures.

He Lifeng emphasized the importance of advancing the economic and trade dialogue based on the key understandings reached during the June 5 call between the two heads of state. He reiterated the guiding principles of mutual respect, peaceful coexistence, and mutually beneficial cooperation, encouraging both parties to address each other's core concerns, consolidate mutual understanding, and reinforce trust. He affirmed that China’s position on its trade relations with the U.S. remains unchanged, highlighting that these relations are fundamentally cooperative and advantageous to both countries. Given their significant common interests and broad opportunities for collaboration, both sides stand to gain from partnership and risk losses from confrontation.

A stable and healthy economic relationship between China and the U.S. is vital not only to their respective development strategies but also to the broader stability and growth of the global economy. Looking ahead, both countries should continue implementing the two leaders’ consensus, fully leverage the bilateral consultation framework, strengthen mutual understanding, expand cooperation, and pursue dialogue aimed at delivering shared benefits.

Representatives from the U.S. side acknowledged the strategic importance of maintaining a stable economic and trade relationship with China for both nations and the world economy. They expressed a willingness to resolve trade differences through the established consultation process and work towards outcomes that further reinforce bilateral economic stability.

On July 29, Li Chenggang—China’s International Trade Negotiator and Vice Minister of Commerce—confirmed that both nations had agreed to continue advancing the 90-day extension of the suspended 24% reciprocal tariffs along with China's parallel measures.

Li noted that during the one-and-a-half-day discussions, both delegations, guided by the June 5 consensus between their respective heads of state, used the consultation platform to conduct in-depth and transparent exchanges on pressing shared concerns.

He further stated that the economic and trade teams of China and the U.S. will maintain close dialogue, engage in timely communication regarding trade issues, and work jointly to support the ongoing stable and sound development of their economic and trade partnership.