United States and China Issue Geneva Joint Statement, Each Lowering Tariffs by 115 Percentage Points

In Geneva, Switzerland, after two days of economic and trade talks over the weekend, the United States and China issued a joint statement on May 12, 2025: each side will lower tariffs by 115 percentage points, the actions will be taken by May 14, and 24 percentage points of the rates will be suspended for an initial period of 90 days.

The joint statement says the United States will modify the application of the additional rate set out in Executive Order 14257 of April 2, 2025, on articles of China, including articles of the Hong Kong Special Administrative Region and the Macau Special Administrative Region, by suspending 24 percentage points of that rate for 90 days while retaining the remaining 10 percent, and will remove the modified rates imposed by Executive Order 14259 of April 8, 2025, and Executive Order 14266 of April 9, 2025.

China will correspondingly modify the application of the additional rate in Announcement No. 4 of 2025 of the Customs Tariff Commission of the State Council on articles of the United States, suspending 24 percentage points for 90 days while retaining the remaining 10 percent, removing the rates imposed by Announcements No. 5 and No. 6, and adopting all necessary administrative measures to suspend or remove the non-tariff countermeasures taken against the United States since April 2, 2025. In its fact sheet the same day, the White House said China would remove the retaliatory tariffs announced since April 4, 2025, and suspend its initial 34 percent tariff of April 4 for 90 days while retaining 10 percent, and that the United States would likewise suspend its 34 percent reciprocal tariff of April 2 for 90 days while retaining 10 percent, with other U.S. measures remaining in place.

Under the arrangement, counting the retained 20 percent fentanyl-related tariff, the overall U.S. tariff level on Chinese goods falls from 145 percent to 30 percent, while China's corresponding tariff on U.S. goods falls to 10 percent. The two sides will also establish a mechanism to continue discussions on economic and trade relations: the Chinese representative will be Vice Premier He Lifeng, and the U.S. representatives will be Secretary of the Treasury Scott Bessent and U.S. Trade Representative Jamieson Greer. The discussions may be held alternately in China, the United States, or a third country agreed by the parties, with working-level consultations as required.

The de-escalation ends the rapid escalation that began in April, when after Executive Order 14257 imposed reciprocal tariffs on April 2, successive rounds raised the U.S. rate on China to as high as 145 percent and China's rate on the United States to 125 percent. The White House fact sheet said the U.S. goods trade deficit with China was $295.4 billion in 2024, the largest with any trading partner. In Geneva, Secretary Bessent said the two sides had reached an agreement on a 90-day pause with tariff levels moved down substantially. (Source: The White House)

Related: Trump Signs Executive Order 14257 Imposing Reciprocal Tariffs: 10% Baseline Worldwide, 34% on China

Related: Trump Pauses Country-Specific Reciprocal Tariffs for 90 Days, Raises China Rate to 125%

Source: The White House

Published by GSM · USA (original Chinese edition)

Photo: 图：瑞士日内瓦湖畔与大喷泉（资料图）。图：Stéphane Pecorini，CC BY-SA 2.0，via Wikimedia Commons / Photo: Geneva, Lake Geneva and the Jet d'Eau (file photo). Photo: Stéphane Pecorini, CC BY-SA 2.0, via Wikimedia Commons

Latest in White House

Trump Tells CNN Renewed Strikes on Iran Are 'Highly Unlikely' If Talks Progress2026-11-08Trump Issues Presidential Message on Diwali, Sending Greetings to Americans Celebrating the Festival of Lights2026-11-08