The China-U.S. trade consensus has been reached and a joint statement will be released today.

From May 10 to 11, 2025, high-level China-U.S. economic and trade talks will be held in Geneva, Switzerland. The head of the Chinese side of the China-U.S. economic and trade negotiations, Vice Premier of the State Council, stated at a press conference held by the Chinese delegation on the evening of the 11th local time that the talks were candid, in-depth, and constructive, reaching important consensus and making substantial progress. Both sides agreed to establish a China-U.S. economic and trade consultation mechanism, and a joint statement will be released on May 12.

According to relevant reports, the joint statement may include the following content:

Tariff adjustments: The U.S. side previously proposed to reduce the current average tariff on Chinese goods from 145% to 80%, while the Chinese side insisted on the bottom line of "eliminating all unilateral tariffs," and the final phased consensus reached may lay the foundation for subsequent negotiations.

Market opening: The Chinese side promised to expand imports of U.S. agricultural products and deepen cooperation in agricultural products, energy, and green technology; the U.S. side promised to improve the investment environment for Chinese enterprises in the U.S. and alleviate review barriers citing "national security."

Technical cooperation: Both sides may strengthen technological innovation cooperation in fields such as artificial intelligence, biotechnology, clean energy, electric vehicles, and the digital economy, such as restarting the China-U.S. Energy Efficiency Forum and promoting renewable energy cooperation.

In addition, both sides agreed to establish a permanent economic and trade consultation mechanism directly led by the Chinese Vice Premier of the State Council and U.S. Treasury Secretary Yellen, to regularly discuss issues such as tariffs and supply chain security. This high-level China-U.S. economic and trade meeting marks a potential easing period after seven years of tariff struggles, signaling a shift from confrontation to competition and cooperation, providing a boost for the stability of the global supply chain and economic recovery.