The parties issued a joint statement following the two-day talks in Geneva, in which they confirmed the reduction of tariffs to 10%. The United States will temporarily reduce additional duties imposed in April by 24 percentage points, while the base rate of 10% will remain in effect. This decision will be valid for 90 days and is considered as a tentative step towards further normalization of bilateral economic ties.
In response, China has pledged to take similar measures and also reduce duties on American goods. Thus, both sides have demonstrated their readiness to de-escalate the conflict, which has been intensifying in recent months. Representatives of Beijing stressed that this step is a consequence of the desire to maintain stability in world markets.
These agreements have become part of a broader initiative to mitigate the effects of harsh U.S. trade policies. Earlier, Donald Trump imposed duties on products from 185 countries, as well as additional charges of 25% on car imports. Duties on Chinese goods reached 145%, taking into account sanctions for the fight against fentanyl. Now, amid growing pressure on the American market and critical voices within the country, the White House has decided to temporarily soften its position and give diplomacy a chance.
