On May 12, #贸易战缓和 local time, China and the United States released the "Joint Statement on China-U.S. Economic and Trade Talks" in Geneva, Switzerland. Both sides announced the cancellation of 91% of the additional tariffs and established a normalized consultation mechanism, while suspending the remaining tariffs. This progress marks a significant easing of the China-U.S. trade war and injects positive signals into global economic stability.