Ahmet Bedirhan Arvas 
Following two days of talks led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, the US and China have agreed to freeze current tariffs until August 12th. This decision aims to reduce trade tensions between the two countries and lay the groundwork for a more comprehensive agreement.
Tariff Levels
According to the agreement, the US will maintain tariffs on Chinese goods at 30%; China will keep tariffs on US products at 10%. This arrangement will be valid until August 12th. However, after this date, whether the tariffs will return to previous levels will depend on US President Donald Trump’s approval. Bessent stated that if Trump does not approve, tariffs will revert to their April 2nd levels or another level decided by Trump.
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Content of the Talks
During the talks in Stockholm, not only tariffs but also topics such as China’s investment restrictions on the US, fentanyl supply, and energy trade were discussed. Both sides expressed their willingness to maintain open communication and build a more balanced trade relationship.
Global Economic Impacts
The International Monetary Fund (IMF) stated that the US’s wide-ranging tariffs have negatively impacted global economic growth and fueled inflation. However, a relaxation in some trade measures has raised the global GDP forecast for 2025 to 3%.
Although this agreement between the US and China has prevented the trade war from escalating further, the situation of tariffs after August 12th remains uncertain. Whether the tariffs will continue will be crucial not only for the two countries but also for the future of the global economy.
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