China, US suspend 24% tariffs, lifting trade confidence and fueling market growth

On August 12th, China and the United States issued the Joint Statement of the Stockholm Economic and Trade Talks. The US has promised to continue adjusting its measures to impose tariffs on Chinese goods (including goods from the Hong Kong Special Administrative Region and the Macao Special Administrative Region), and to suspend the implementation of the 24% equivalent tariff for 90 days starting from August 12th. Starting from August 12th, China will continue to suspend the implementation of 24% tariffs and related non-tariff countermeasures against the United States and Canada for 90 days. For foreign trade enterprises, it is very advantageous.

Current situation of foreign trade enterprises

In the production workshop of a factory in Jiangsu, workers are working on the assembly line in an orderly and busy manner. The company leader claimed that orders from the United States accounted for over 50% of the company's orders. China and the United States have once again suspended the implementation of mutual 24% tariffs for 90 days, which is conducive to market stability and enhances their confidence. According to various data, the volume of goods sent to the United States has remained stable recently.

Shenzhen Yantian Port is the most densely populated port area for North American air routes in southern China, responsible for over a quarter of the country's exports to the United States. At berth 13 of Yantian Port in Shenzhen, the "Mediterranean Romani" is busy with loading and unloading operations. The main goods transported by this cargo ship are Chinese made mechanical and electrical products, household appliances, daily necessities, etc. After loading and unloading nearly 10000 standard containers, it will sail towards the Port of New York in the United States. According to the staff of Yantian Port, including the "Mediterranean Romani", there were a total of 8 cargo ships departing from the port to the United States on that day. Since August this year, there have been about 60 cargo ships traveling between Yantian Port and the US China route, with an average of 6 ships per day. It is expected that this number will remain stable in the short term.