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Both nations also committed to maintaining some tariffs in the short term, with U.S. tariffs on Chinese goods suspended for 90 days, retaining a 10% rate, and similar measures applied by China to U.S. goods. This framework provides a targeted, temporary pause rather than a long-term resolution.
Key Terms of the Joint Statement
The joint statement emphasizes the importance of their bilateral economic ties, recognizing their significance not only domestically but also for the global economy. The two sides agreed on several critical points: