After meeting in Geneva, Switzerland, over the weekend, the U.S. and Chinese governments reached an agreement to begin deescalating tariffs, starting May 14. Here is a link to the fact sheet: https://www.whitehouse.gov/fact-sheets/2025/05/fact-sheet-president-donald-j-trump-secures-a-historic-trade-win-for-the-united-states/?utm_source=wh_social_share_button
CHINESE ACTIONS: China will remove the retaliatory tariffs it announced since April 4, 2025, and will also suspend or remove the non-tariff countermeasures taken against the United States since April 2, 2025.
- China will also suspend its initial 34% tariff on the United States it announced on April 4, 2025, for 90 days, but will retain a 10% tariff during the period of the pause.
AMERICAN ACTIONS: The United States will remove the additional tariffs it imposed on China on April 8 and April 9, 2025, but will retain all duties imposed on China prior to April 2, 2025, including Section 301 tariffs, Section 232 tariffs, tariffs imposed in response to the fentanyl national emergency invoked pursuant to the International Emergency Economic Powers Act, and Most Favored Nation tariffs.
- The United States will suspend its 34% reciprocal tariff imposed on April 2, 2025, for 90 days, but retain a 10% tariff during the period of the pause.
- "The 10% tariff continues to set a fair baseline that encourages domestic production, strengthens our supply chains and ensures that American trade policy supports American workers first, instead of undercutting them," the Trump Administration said.
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