Joint Statement of China-U.S. Geneva Trade Talks

LB Select
2025.05.12 07:15
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China-US joint statement: Both sides commit to suspend the implementation of some new tariffs before May 14th for a 90-day period. The US will suspend the 24% tariff increase on Chinese goods, while maintaining the existing 10%, and will remove some additional tariffs. China will reciprocally suspend the 24% tariff increase on US goods, while maintaining the existing 10%, and will remove corresponding additional tariffs and non-tariff countermeasures. Both sides will establish a mechanism to continue negotiations, led by He Lifeng, Scott Bessent, and Jamison Greer.

The Government of the People's Republic of China ("China") and the Government of the United States of America ("the United States"),

Recognizing the importance of the bilateral trade and economic relationship to both countries and the global economy;

Recognizing the importance of a sustainable, long-term, and mutually beneficial bilateral trade and economic relationship;

In light of their recent discussions, believing that continued consultations are helpful in addressing their concerns in the field of trade and economics;

Intending to continue relevant work in the spirit of mutual openness, continued communication, cooperation, and mutual respect;

Both sides commit to take the following measures before May 14, 2025:

  • The United States will: (1) modify the ad valorem tariffs imposed 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 of April 2, 2025, wherein the 24% tariff will be suspended for an initial period of 90 days, while retaining the remaining 10% tariff on these goods as stipulated in the said Executive Order; and (2) remove the additional tariffs imposed on these goods pursuant to Executive Order 14259 of April 8, 2025, and Executive Order 14266 of April 9, 2025.
  • China will: (1) correspondingly modify the ad valorem tariffs imposed on goods from the United States as stipulated in Announcement [2025] No. 4 of the Customs Tariff Commission of the State Council, wherein the 24% tariff will be suspended for an initial period of 90 days, while retaining the remaining 10% tariff on these goods, and remove the additional tariffs imposed on these goods pursuant to Announcement [2025] No. 5 and No. 6 of the Customs Tariff Commission of the State Council; and (2) take necessary measures to suspend or remove non-tariff countermeasures against the United States since April 2, 2025.

Following the implementation of the above measures, both sides will establish a mechanism to continue consultations on trade and economic relations. The Chinese representative is Vice Premier of the State Council He Lifeng, and the U.S. representatives are Secretary of the Treasury Scott Bessent and United States Trade Representative Jamison Greer. Consultations may be held in China, the United States, or a third country agreed upon by both sides. As needed, both sides may conduct working-level consultations on relevant trade and economic issues.

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