China-U.S. Geneva Economic and Trade Talks Joint Statement
Xinhua News Agency, Geneva, May 12 - China-U.S. Geneva Economic and Trade Talks Joint Statement
The government of the People's Republic of China (“China”) and the government of the United States of America (“the United States”),
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, believing that continuous consultations will help address the concerns of both sides in the area of economic and trade;
In the spirit of mutual openness, continuous communication, cooperation, and mutual respect, continuing to advance relevant work;
Both sides commit to taking the following measures by May 14, 2025:
The United States will (1) amend the 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 No. 14257 dated April 2, 2025, in which 24% of the tariffs will be suspended for the initial 90 days, while retaining the remaining 10% tariffs as prescribed by that Executive Order on these goods; (2) cancel the additional tariffs on these goods imposed under Executive Order No. 14259 dated April 8, 2025, and Executive Order No. 14266 dated April 9, 2025.
China will (1) accordingly amend the tariffs imposed on U.S. goods as stipulated in the Tax Commission Announcement No. 4 of 2025, in which 24% of the tariffs will be suspended for the initial 90 days, while retaining the remaining 10% tariffs on these goods, and cancel the additional tariffs on these goods imposed under Tax Commission Announcement No. 5 and No. 6 of 2025; (2) take necessary measures to suspend or cancel non-tariff countermeasures against the United States starting from April 2, 2025.
After taking the above measures, both sides will establish a mechanism to continue consultations on economic and trade relations. The Chinese representative is the Vice Premier of the State Council, while the U.S. representatives are Secretary of the Treasury Scott Baucus and U.S. Trade Representative Jamison Greer. Consultations can be held in China, the United States, or a third country agreed upon by both sides. As needed, both sides may conduct working-level consultations on relevant economic and trade topics. (End)