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

Joint Statement on the China-US Economic and Trade Talks in Geneva

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

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

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

in light of recent discussions between the two sides, believing that continued consultations will help address the concerns of both sides in the economic and trade fields;

proceeding with relevant work in the spirit of mutual openness, ongoing communication, cooperation, and mutual respect;

the two sides commit to taking the following measures before May 14, 2025:

The US will (i) revise the ad valorem tariffs imposed on Chinese goods (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, by suspending the implementation of 24% of the tariffs for the initial 90 days, while retaining the right to impose the remaining 10% tariffs on these goods as stipulated in the Executive Order; (ii) cancel the tariff hikes imposed on these goods under Executive Order 14259 of April 8, 2025, and Executive Order 14266 of April 9, 2025.

China will (i) correspondingly revise the ad valorem tariffs imposed on US goods as stipulated in Announcement No. 4 of 2025 of the Customs Tariff Commission, by suspending the implementation of 24% of the tariffs for the initial 90 days, while retaining the right to impose the remaining 10% tariffs on these goods, and cancel the tariff hikes imposed on these goods under Announcement No. 5 and No. 6 of 2025 of the Customs Tariff Commission; (ii) take necessary measures to suspend or cancel non-tariff countermeasures against the US that have been in effect since April 2, 2025.

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