Announcement of Tariff Adjustments
China and the US announced tariff adjustments on Monday to ease trade tensions, per a joint statement from Geneva.
Meeting Background
The deal followed a two-day high-level meeting in Switzerland, where both sides recognized their trade relationship's importance for their economies and global stability.
US Tariff Adjustments
The US will:
Remove 91% of its April-imposed tariffs on Chinese goods
Adjust 34% of reciprocal tariffs by:
Suspending 24% for 90 days
Keeping 10% unchanged
China's Reciprocal Measures
China will:
Cut 91% of its tariffs on US goods
Adjust the corresponding 34% by:
Suspending 24% for 90 days
Retaining 10%
Roll back non-tariff measures
Implementation & Future Commitments
Both nations pledged to:
Implement changes by May 14
Stress the need for sustainable economic partnership
Agree to establish a dialogue mechanism for future trade talks
China and US consent to to lower trade tariff
2025-05-12
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