#USChinaTradeTalks U.S. and China Agree to Temporary Tariff Suspension Amid Renewed Trade Talks

The United States and China have agreed to temporarily suspend 24 percentage points of reciprocal tariffs for a 90-day period, while maintaining a baseline 10% tariff. In addition, both sides have removed the extra duties introduced in early April 2025, and China has pledged to pause its non-tariff countermeasures.

New negotiations officially resumed on June 9 in London, bringing together U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and U.S. Trade Representative Jamieson Greer, who met with China's lead negotiator, Vice Premier He Lifeng. These talks follow earlier discussions held in May in Geneva, where both parties prioritized cooperation on fentanyl control and efforts to reduce non-tariff trade barriers.

The primary goal of these negotiations is to build a sustainable, long-term trade framework, with future talks scheduled to alternate between both countries. Financial markets responded with caution, as U.S. Treasury yields edged lower ahead of the London discussions.