During high-level talks in Geneva, the governments of the United States of America and the People's Republic of China published a joint declaration that sets the course for sustainable economic cooperation. Both sides emphasize the central importance of stable, long-term and mutually beneficial economic and trade relations - not only for the economies of both countries, but also for the stability of the global economy.
In light of the recent dialogues, the delegations from both countries, led by He Lifeng, Vice Premier of China's State Council, and US Treasury Secretary Scott Bessent and Trade Representative Jamison Greer, agreed on concrete measures to ease tariffs and resume structured consultations.
Key points of the agreement:
US tariff measures:
- The additional duties imposed by Executive Order 14257 on Chinese products, will be suspended for a period of 90 days (originally 24%).
- The remaining duty rate of 10% will remain in place in accordance with current regulations.
- Additional duties under Executive Orders 14259 and 14266 are repealed.
China's countermeasures:
- Corresponding anti-dumping duties on US products under Announcement No. 4/2025 will be suspended for 90 days (24%).
- The remaining duty rate of 10% remains in place.
- Further measures set out in Announcements No. 5 and 6 are repealed.
- In addition, non-tariff countermeasures are suspended or repealed - which came into force on April 2, 2025.
Future cooperation: Both parties agreed to establish a bilateral consultation mechanism to ensure continuous dialog on economic and trade issues. Planned talks may take place in China, the US or a neutral third country. Working discussions on specific topics are explicitly foreseen.
The agreement signals an important commitment by both countries to constructive cooperation and represents a pragmatic response to current economic policy challenges. The steps announced will help to stabilize international supply chains and reduce global economic uncertainties.
We hope that these points will lead to the current procedure for applying for export licenses being simplified or abolished. Until final confirmation, we will proceed as before.
We will keep you informed.
