On May 12, 2025, China and the United States jointly announced an agreement in Geneva, Switzerland, marking a substantial easing of the China-U.S. trade war. According to the 'Joint Statement of China-U.S. Economic and Trade Talks in Geneva', both sides agreed to suspend additional tariffs on each other's goods for 90 days, with a total reduction exceeding 100%. The specific measures are as follows:

- The United States adjusts tariffs on China: suspends the additional 24% tariff on Chinese goods imposed by the executive order on April 2, 2025, while retaining the remaining 10% tariff; cancels the additional tariffs imposed by the two executive orders on April 8 and 9.

- China adjusts tariffs on the U.S.: suspends the 24% counter-tariff on U.S. goods while retaining 10%; cancels previous non-tariff restrictions on U.S. agricultural products, automobiles, and other areas.

Both sides also agreed to establish a continuous consultation mechanism, with the possibility of further adjusting the remaining 10% tariff in the future, and using it as a bargaining chip in subsequent negotiations.

This breakthrough development brings positive impacts to both China and the U.S. and even the global economy. For both China and the U.S., lowering tariffs will reduce the cost of exported goods, enhance market competitiveness, and the export volume of related companies is expected to rebound. Meanwhile, the speed of supply chain restructuring may slow down, and companies on both sides will reassess their production layout and market strategies in each other's countries to strengthen partnerships. For the global economy, the easing of the trade war helps stabilize the global trade landscape, restore market confidence, and promote the stable development of global industrial and supply chains. The global capital markets have responded positively to this news, with the A-share export recovery sector leading the gains, the Shanghai Composite Index nearing 3,400 points; the Dow Jones Industrial Average rising by 1.4%, and technology stocks performing strongly.