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Refer to the Joint Statement on the U.S.–China Economic and Trade Meeting in Geneva

Refer to the Joint Statement on the U.S.–China Economic and Trade Meeting in Geneva on the official website of the White House (U.S.):

The Government of the United States of America (“United States”) and the Government of the People’s Republic of China (“China”),

Recognizing the importance of their bilateral economic and trade relationship to both countries and the global economy;
Acknowledging the significance of a stable, long-term, and mutually beneficial economic and trade relationship;
Reviewing their recent discussions and believing that further dialogue holds potential to address each side’s concerns in the economic and trade relationship; and
Moving forward in a spirit of openness, continued communication, cooperation, and mutual respect;

The Parties hereby commit to taking the following actions prior to May 14, 2025:

• The United States shall:
  (i) amend the application of the additional ad valorem tariffs on goods from China (including goods from the Hong Kong Special Administrative Region and the Macao Special Administrative Region) as stipulated in Executive Order 14257 dated April 2, 2025, by temporarily reducing those tariffs by 24 percentage points for an initial period of 90 days, while maintaining the remaining 10% ad valorem tariffs on such goods under the terms of said Executive Order; and
  (ii) eliminate the revised additional ad valorem tariffs on those goods as prescribed in Executive Order 14259 dated April 8, 2025 and Executive Order 14266 dated April 9, 2025.

• China shall:
  (i) amend the application of additional ad valorem tariffs on U.S. goods as set forth in Circular No. 4/2025 of the Tariff Commission of the State Council by temporarily reducing those tariffs by 24 percentage points for an initial period of 90 days, while maintaining the remaining 10% additional tariffs on such goods and eliminating the revised additional ad valorem tariffs imposed under Circular No. 5/2025 and Circular No. 6/2025; and
  (ii) implement all necessary administrative measures to suspend or remove the non-tariff retaliatory measures that have been applied against the United States since April 2, 2025.

Upon completion of the above actions, the Parties shall establish a mechanism for continued dialogue on the economic and trade relationship.

• China shall be represented in these discussions by Vice Premier of the State Council, He Lifeng;

• The United States shall be represented by Secretary of the Treasury, Scott Bessent, and United States Trade Representative, Jamieson Greer.

These discussions may be held alternately in China, the United States, or a third country as agreed by both Parties. When necessary, both sides may also engage in working-level consultations on relevant economic and trade matters.

Note:
With the 20% tariff previously announced by the U.S. in March 2025 on Chinese imports, and the 34% tariff announced in early April 2025, now temporarily reduced by 24 percentage points, the effective total tariff during the 90-day suspension period is 30%. Meanwhile, China’s tariff on U.S. imports stands at 10%.

Source link: https://www.whitehouse.gov/briefings-statements/2025/05/joint-statement-on-u-s-china-economic-and-trade-meeting-in-geneva/