Tariffs News: U.S. Suspends Tariffs on Chinese Goods as Geneva Trade Talks Yield Breakthrough

April-imposed tariffs rolled back as U.S. and China agree to de-escalate trade tensionsIn a significant development for global trade, the United States has agreed to suspend and cancel a series of tariffs imposed on Chinese goods following the latest round of Sino-U.S. economic and trade talks in Geneva. The mutual tariff rollback signals progress toward restoring stability in bilateral trade relations.Key Takeaways:24% of U.S. tariffs suspended for 90 days; remaining 10% retainedTariffs under Executive Orders No. 14259 and 14266 fully cancelledChina responds in kind, suspending 24% of its tariffs and canceling additional leviesBoth nations agree to pause non-tariff countermeasures enacted in AprilU.S. Tariff Adjustments: What’s Changing?In a joint statement released following the Geneva talks, the U.S. confirmed revisions to tariffs outlined in Executive Order No. 14257 (April 2, 2025). These include:Suspending 24% ad valorem tariffs on Chinese goods—including imports from Hong Kong and Macao SARs—for an initial 90-day periodRetaining 10% tariffs under the original executive orderFully cancelling the additional tariffs enacted under Executive Orders No. 14259 (April 8) and 14266 (April 9)China’s Reciprocal MeasuresIn alignment with the U.S. actions, China will reciprocate with tariff reductions of its own:Suspend the 24% additional tariff on U.S. goods under Tax Commission Announcement No. 4 of 2025 for 90 daysRetain 10% tariffs as outlined in the original announcementCancel additional levies imposed under Announcements No. 5 and No. 6 of 2025Suspend or cancel all non-tariff countermeasures initiated on or after April 2, 2025Global Market ImplicationsThe de-escalation comes at a time when global supply chains are under pressure from inflationary concerns and geopolitical instability. This latest agreement is expected to:Stabilize U.S.–China trade relationsEase import/export costs for businesses in both nationsBoost investor sentiment across commodities and equities marketsPotentially impact crypto markets, especially Bitcoin, as risk appetite improves