Awesome! The China-U.S. Geneva negotiations have achieved results beyond most people's expectations.

First, both the U.S. and China significantly reduced tariffs. The U.S. will cancel all tariffs imposed on China after April 2, and the 24% of the 34% tariff announced on April 2 will be suspended for 90 days. China also canceled all retaliatory tariffs against the aforementioned U.S. tariffs. This means that both sides will only maintain 10% of the tariffs imposed on April 2 and thereafter for the next 90 days. Moreover, the tariffs retained by both sides are set entirely based on the principle of equality, with no implication that the U.S. can impose tariffs without China being able to retaliate.

This is a huge victory for China in upholding the principles of equality and mutual respect. So far, no other country has achieved the aforementioned principles of equal negotiations between China and the U.S. The U.S. and the U.K. reached an agreement last week, but the U.S. retained a 10% base tariff on the U.K., while the U.K. did not take any equal retaliatory measures in return. Japan, Canada, and the European Union have not yet obtained any equal commitments from the U.S.

The equal agreement reached between China and the U.S. is not only a victory for China but also a victory for international trade rules and the order that should be in place. The China-U.S. agreement serves as a demonstration, and it will undoubtedly inspire other countries to protect their own rights.