Joint Statement of the China-US Geneva Economic and Trade Talks 2025
Mechanism for Consultation
Both sides established a regularized dialogue framework to address bilateral trade disputes, covering tariffs, supply chains, and technology competition. Implementation details are expected to be finalized within a short timeframe.
Tariff Adjustments
- U.S. Commitments:
Suspend 24% of tariffs imposed on Chinese goods under Executive Order 14257 (April 2, 2025) for 90 days while retaining 10%.
Fully revoke tariffs under Executive Orders 14259 and 14266 (April 8–9, 2025).
- China's Reciprocal Measures:
Suspend 24% of retaliatory tariffs on U.S. goods (Tax Commission Announcement No. 4, 2025) for 90 days and retain 10%.
Cancel tariffs under Announcements No. 5 and 6 (2025) and suspend non-tariff countermeasures (e.g., export controls) implemented since April 2, 2025.
- Net Outcome: U.S. tariffs on Chinese goods drop from 145% to 30%, while China's retaliatory tariffs decrease from 125% to 10%.
Supply Chain Collaboration
A bilateral working group will focus on stabilizing semiconductor and medical equipment supply chains, with immediate steps to ease trade bottlenecks.
Technical Standards Coordination
Joint research initiatives on AI governance and data security standards were launched to mitigate non-market competition risks.
Implementation Timeline
Tariff suspensions take effect on May 12, 2025, with a 90-day window for technical negotiations.
Negotiations may occur in China, the U.S., or third-party locations, led by Vice Premier He Lifeng (China) and Treasury Secretary Scott Bassett and Trade Representative Jamison Greer (U.S.).
Global Impact
The WTO Director-General praised the agreement for alleviating global supply chain pressures and restoring market confidence.
