Beijing and Washington have agreed to suspend part of their bilateral trade restrictions for 90 days. Both sides will reduce existing tariffs on a range of goods — China from 125% to 10%, and the U.S. from 145% to 30%. The measures are temporary and come with mutual concessions, including the reversal of some previous decisions and a commitment to continue negotiations.
Postponed Tariff Hikes
According to a joint statement published by the Ministry of Commerce of the People's Republic of China, the U.S. and China agreed to a temporary suspension of some reciprocal tariffs for a 90-day period. At this stage, both sides will cancel the additional 24% tariffs, keeping in place only the 10% duties originally stipulated in the respective executive orders.
On the U.S. side, this refers to a revision of Executive Order No. 14257, dated April 2, 2025. According to the agreement, the 24% tariffs imposed on Chinese goods — including those from Hong Kong and Macau — will be suspended for the initial period, with only the 10% tariffs remaining active. In addition, the U.S. will fully cancel the tariffs introduced under Executive Orders No. 14259 (April 8) and No. 14266 (April 9).
In return, China has committed to amending Notice No. 4 of the 2025 Tax Commission, similarly suspending the 24% surcharge while keeping the 10% rate. China will also cancel the tariffs announced earlier in Notices No. 5 and No. 6 and will suspend or revoke all non-fiscal retaliatory measures that have been in effect since April 2, 2025.
A New Format for Dialogue
During the negotiations in Geneva, both parties emphasized the importance of stable and mutually beneficial trade and economic relations — not only for themselves but also for the global economy. The agreement outlines the creation of a separate mechanism for ongoing negotiations at the working level.
China’s delegation is headed by Vice Premier of the State Council He Lifeng. The U.S. is represented by Treasury Secretary Scott Bessent and Trade Representative Jamison Greer. Future rounds of consultations are expected to take place in China, the United States, or a third country, as agreed by the parties.
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