China and the United States have reached an agreement to extend the suspension of 24% reciprocal tariffs imposed during previous trade disputes, announced Li Chenggang, China's international trade representative and vice commerce minister, during a press briefing in Stockholm on Tuesday. The decision follows fresh economic negotiations between the two nations aimed at stabilizing bilateral trade relations.
The tariffs, initially implemented as part of a 2018 trade dispute, had raised costs for businesses and consumers on both sides of the Pacific. Analysts suggest the extension signals cautious optimism amid ongoing efforts to resolve lingering tensions. Li emphasized the importance of 'pragmatic dialogue' to address structural economic concerns while safeguarding global supply chains.
This development comes as multinational corporations and investors closely monitor U.S.-China economic interactions, which significantly influence Asian export markets and manufacturing hubs. The tariff pause is expected to provide temporary relief to industries ranging from electronics to agriculture, though experts caution that long-term solutions require deeper policy alignment.
