Joint Statement of China-U.S. Economic and Trade Talks in Geneva

Source: Ministry of Commerce of the People's Republic of China

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

Recognize the importance of bilateral economic and trade relations to both countries and the global economy;

Recognize the importance of sustainable, long-term, and mutually beneficial bilateral economic and trade relations;

In light of recent discussions between the two sides, believe that continued consultations will help resolve issues of concern to both sides in the economic and trade fields;

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

The two sides commit to take the following measures by May 14, 2025:

The United States will (i) modify the additional ad valorem tariffs on Chinese goods (including goods from the Hong Kong Special Administrative Region and the Macao Special Administrative Region) imposed by Executive Order No. 14257 of April 2, 2025, of which 24% of the tariffs will be suspended for an initial 90 days, while retaining the remaining 10% tariff on these goods imposed pursuant to the provisions of Executive Order; and (ii) cancel the additional tariffs on these goods imposed pursuant to Executive Order No. 14259 of April 8, 2025 and Executive Order No. 14266 of April 9, 2025.

China will (i) amend the additional ad valorem tariffs on U.S. goods as provided for in Tax Commission Announcement No. 4 of 2025 accordingly, of which 24% of the tariffs will be suspended for the initial 90 days, while retaining the remaining 10% of the tariffs on these goods, and canceling the additional tariffs on these goods pursuant to Tax Commission Announcements No. 5 and No. 6 of 2025; and (ii) take necessary measures to suspend or cancel the non-tariff countermeasures against the United States from April 2, 2025.

After taking the above measures, the two sides will establish a mechanism to continue consultations on economic and trade relations. The Chinese representative is Vice Premier He Lifeng, and the U.S. representative is Treasury Secretary Scott Bessant and U.S. Trade Representative Jamison Greer. The consultations can be held in China, the United States, or a third country agreed by both parties. As needed, the two sides may conduct working-level consultations on relevant economic and trade issues.