China, U.S. reach consensus on extending tariff suspension

BEIJING, Aug. 12 (Xinhua) -- China and the United States on Tuesday released a joint statement on the bilateral economic and trade meeting in Stockholm.

The United States 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), by suspending 24 percentage points of that rate for an additional period of 90 days, starting on Aug. 12, according to the joint statement.

The joint statement also said that China will continue to suspend 24 percentage points of additional ad valorem rate of duty on articles of the United States as well as related non-tariff countermeasures for another 90 days, starting on Aug. 12.