US and China agree on 90-day suspension of additional tariffs - White House
The United States and China have reached a temporary agreement on a 90-day suspension of additional duties in bilateral trade.
This was reported by the White House, Censor.NET informs.
As noted, the United States is reducing tariffs on Chinese goods from 145% to 30%, and China is reducing tariffs on American goods from 125% to 10%.
The decision was made after two days of negotiations in Geneva. The United States will keep the basic duty rate at 10%, suspending 24 percentage points of additional tariffs, and China, in addition to reducing duties, will lift some of the non-tariff restrictions imposed since April.
The agreement is aimed at stabilising economic relations between the world's two largest economies and paves the way for further negotiations.
The parties also agreed to establish a permanent mechanism for discussing trade issues. The US will be represented by Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, and China by Vice Premier He Lifeng. The meetings will take place in the United States, China or a third country in turn.
As a reminder, on Saturday, May 10, the United States and China began ministerial-level talks in Geneva to resolve the trade war.
On 11 May, the second round of talks between the countries took place in Geneva.
