Recent signs of easing in the China-U.S. trade war have emerged. On May 12 local time, China and the U.S. released the "Joint Statement on China-U.S. Economic and Trade Talks" in Geneva, Switzerland, announcing a series of tariff adjustment measures. The specific content is as follows:

• Removal of some tariffs: The U.S. promises to remove a total of 91% of tariffs imposed on Chinese goods according to the executive orders from April 8 and April 9, 2025, while China will remove 91% of its counter-tariffs on U.S. goods.

• Suspension of some tariffs: The U.S. modifies the 34% "reciprocal tariffs" on Chinese goods from the executive order dated April 2, 2025, suspending 24% of the tariffs for 90 days, while retaining the remaining 10%. China will suspend 24% of its 34% "reciprocal tariffs" on U.S. goods for 90 days, retaining the remaining 10% and canceling non-tariff countermeasures.

• Comprehensive tariff rate changes: The comprehensive tariff rate on Chinese goods from the U.S. will decrease from 145% to 10%, while the comprehensive tariff rate on U.S. goods from China will decrease from 125% to 10%.

Previously, the two countries engaged in a series of economic frictions due to trade imbalances, intellectual property protection, and other issues. The U.S. imposed high tariffs on Chinese goods, and China took countermeasures, resulting in strained trade relations and serious impacts on the global supply chain. The easing of this trade war is a result of various factors, including the demand for global economic recovery, increasing international pressure, and domestic economic pressures.

However, despite this consensus easing tariff conflicts, the structural differences between China and the U.S. in areas such as digital trade and industrial subsidies remain unresolved, and there is still a certain degree of uncertainty in future relations between the two sides.