Joint Statement of the China-U.S. Geneva Economic and Trade Talks

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 for both countries and the global economy;

Recognizing the significance of a sustainable, long-term, and mutually beneficial bilateral economic and trade relationship;

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

In the spirit of mutual openness, continuous communication, cooperation, and mutual respect, continuing to advance relevant work;

After two days of high-level negotiations in Geneva, Switzerland, China and the United States issued a joint statement today:

Both sides commit to taking the following measures by May 14, 2025: Both sides will suspend the implementation of 24% reciprocal tariffs for an initial 90 days while retaining the remaining 10% tariffs on corresponding goods. The United States will reduce tariffs on Chinese goods from 145% to 30% within 90 days; China will also reduce tariffs on U.S. goods from 125% to 10% during the same period. Furthermore, both sides will cancel all subsequent retaliatory tariffs and China's non-tariff countermeasures. After taking these measures, both China and the United States will establish a mechanism to continue consultations on economic and trade relations.

After taking these 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, and the U.S. representatives are Secretary of the Treasury Scott P. O'Malley and U.S. Trade Representative Jamison Greer. Consultations may take place in China, the United States, or a third country agreed upon by both sides. As needed, both sides may engage in working-level consultations on relevant economic and trade issues.