Joint Statement of the China-U.S. Geneva Economic and Trade Talks
The United States and China reached a joint statement during the economic and trade talks in Geneva, committing to take a series of measures by May 14, 2025. The United States will modify its tariff policy on Chinese goods, suspending 24% of the tariffs while retaining 10% of the tariffs, and canceling other related tariffs. China will also adjust its tariffs on American goods accordingly, suspending 24% of the tariffs and canceling other additional tariffs, and will take measures to suspend or cancel non-tariff countermeasures against the United States
Both parties commit to taking the following measures by May 14, 2025:
The United States will (1) amend the ad valorem tariffs imposed on Chinese goods (including those from the Hong Kong Special Administrative Region and the Macao Special Administrative Region) as stipulated in Executive Order No. 14257 dated April 2, 2025, where a 24% tariff will be suspended for the initial 90 days, while retaining the imposition of the remaining 10% tariff on these goods as per the provisions of the Executive Order; (2) cancel the additional tariffs on these goods imposed under Executive Order No. 14259 dated April 8, 2025, and Executive Order No. 14266 dated April 9, 2025.
China will (1) correspondingly amend the ad valorem tariffs imposed on U.S. goods as stipulated in Announcement No. 4 of the Tax Commission for 2025, where a 24% tariff will be suspended for the initial 90 days, while retaining the imposition of the remaining 10% tariff on these goods, and cancel the additional tariffs on these goods imposed under Announcement No. 5 and No. 6 of the Tax Commission for 2025; (2) take necessary measures to suspend or cancel non-tariff countermeasures against the United States starting from April 2, 2025
