The first trade negotiations between China and the United States in Switzerland have concluded. After four days of intensive discussions, the two sides held trade talks in Geneva, Switzerland, early this morning (May 11). This is the first formal dialogue since the U.S. unilaterally increased tariffs in early April, and it has attracted global attention. They jointly announced phased results: the U.S. may agree to lower the average tariff rate on Chinese goods from the current 145% to 50%-54%, with tariffs on some consumer goods further reduced to 25%. China, in turn, has committed to making reciprocal adjustments in areas such as technology transfer review and financial market access. This result marks a preliminary easing of the more than month-long trade deadlock.

The tariff adjustments will be implemented in two phases, with the first batch of tariff reductions, involving electronic consumer goods and textiles, expected to take effect next week to alleviate domestic inflation pressures in the U.S. A spokesperson for China's Ministry of Commerce later emphasized that **China has always regarded the “cancellation of all unilateral tariffs” as a core demand, and this phased result is a temporary arrangement “based on the actual actions released by the U.S.” and that subsequent negotiations must still be based on equality and mutual benefit.**