China and the US are engaging in friendly consultations to adjust tariffs.

2025-05-14

China will reduce tariffs on US goods from 125% to 10% within 90 days; the US will reduce tariffs on Chinese goods from 145% to 30% within 90 days.

The Government of the People's Republic of China ("China") and the Government of the United States of America ("US")
Recognizing the importance of bilateral trade relations to the economies of both countries and the global economy
Recognizing the importance of a sustainable, long-term, and mutually beneficial bilateral trade relationship
Given recent discussions between the two sides, it is believed that continued consultations will help address concerns in the trade and economic field
Continue to advance relevant work in the spirit of mutual openness, continuous communication, cooperation, and mutual respect
Both sides are committed to taking the following measures before May 14, 2025:

The US will (1) amend the ad valorem tariffs imposed on Chinese goods (including goods from the Hong Kong Special Administrative Region and the Macao Special Administrative Region) as stipulated in Executive Order No. 14257 of April 2, 2025, in which the 24% tariff will be suspended for the initial 90 days, while retaining the remaining 10% tariff on these goods as stipulated in the Executive Order; (2) cancel the additional tariffs imposed on these goods under Executive Order No. 14259 of April 8, 2025 and Executive Order No. 14266 of April 9, 2025.

China will (1) correspondingly amend the ad valorem tariffs imposed on US goods as stipulated in Tax Commission Announcement No. 4 of 2025, in which the 24% tariff will be suspended for the initial 90 days, while retaining the remaining 10% tariff on these goods, and cancel the additional tariffs imposed on these goods under Tax Commission Announcements No. 5 and 6 of 2025; (2) take necessary measures to suspend or cancel non-tariff countermeasures against the US from April 2, 2025.

Following the above measures, both sides will establish a mechanism to continue consultations on trade and economic relations. The Chinese representative is Vice Premier He Lifeng, and the US representatives are Secretary of the Treasury Scott Besent and US Trade Representative Jamison Greer. Consultations may be held in China, the US, or a third country agreed upon by both sides. As needed, both sides may conduct working-level consultations on relevant trade and economic issues.

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