The Government of the People's Republic of China ("China") and the Government of the United States of America ("United States"),
Acknowledging the significance of the bilateral economic and trade relations to both countries and the global economy;
Recognizing the importance of a sustainable, long-term, mutually beneficial bilateral economic and trade relationship;
Having regard to the discussions between the two sides in recent times, and believing that continuous consultations would be helpful in addressing the concerns of both sides in the economic and trade areas;
Acting in the spirit of mutual openness, continuous communication, cooperation, and mutual respect, and committed to furthering the relevant work;
The two sides hereby agree to take the following measures before May 14, 2025:
The United States will (i) amend the additional duties imposed on Chinese goods (including those of the Hong Kong and Macao Special Administrative Regions) under Executive Order No. 14257 dated April 2, 2025, by suspending the 24% duty for an initial period of 90 days, while retaining the remaining 10% duty as provided in the said executive order; and (ii) revoke the additional duties imposed on these goods under Executive Orders No. 14259 dated April 8, 2025, and No. 14266 dated April 9, 2025.
China will (i) amend the additional duties imposed on American goods under Announcement No. 4 of the Tariff Commission of the State Council 2025 by suspending the 24% duty for an initial period of 90 days, while retaining the remaining 10% duty, and revoke the additional duties imposed on these goods under Announcements No. 5 and No. 6 of the Tariff Commission of the State Council 2025; and (ii) take necessary measures to suspend or revoke the non-tariff countermeasures against the United States effective from April 2, 2025.
After taking the above measures, the two sides will establish a mechanism to continue consultations on their economic and trade relations. The Chinese representative is Vice Premier He Lifeng, and the American representatives are Secretary of the Treasury Scott Bessent and United States Trade Representative Jamison Greeley. The consultations may take place in China, the United States, or a third country agreed by both sides. As needed, the two sides may engage in working-level consultations on relevant economic and trade issues.
Done at Geneva, on this twelfth day of May, two thousand and twenty-five.
