China and the United States on Monday released a joint declaration on China-U.S.
Economic and Trade Meeting in Geneva.The following is the English translation of the full text of the joint statement: Joint Statement on China-U.S.
Economic and Trade Meeting in GenevaThe Government of individualss Republic of China ( China ) and the Government of the United States of America (the United States ), Recognizing the value of their bilateral financial and trade relationship to both countries and the international economy; Recognizing the importance of a sustainable, long-term, and mutually advantageous financial and trade relationship; Reflecting on their current discussions and thinking that continued conversations have the potential to address the issues of each side in their economic and trade relationship; and Moving forward in the spirit of shared opening, continued communication, cooperation, and shared regard; The Parties dedicate to take the following actions by May 14, 2025: The United States will (i) modify the application of the additional ad valorem rate of duty on posts of China (including posts of the Hong Kong Special Administrative Region and the Macao Special Administrative Region) set forth in Executive Order 14257 of April 2, 2025, by suspending 24 portion points of that rate for a preliminary duration of 90 days, while keeping the staying ad valorem rate of 10 percent on those articles pursuant to the terms of said Order; and (ii) removing the modified additional ad valorem rates of duty on those posts imposed by Executive Order 14259 of April 8, 2025 and Executive Order 14266 of April 9, 2025.
China will (i) modify appropriately the application of the additional advertisement valorem rate of responsibility on articles of the United States stated in Announcement of the Customs Tariff Commission of the State Council No.
4 of 2025, by suspending 24 percentage points of that rate for a preliminary period of 90 days, while maintaining the staying extra ad valorem rate of 10 percent on those posts, and eliminating the customized additional ad valorem rates of duty on those short articles imposed by Announcement of the Customs Tariff Commission of the State Council No.
5 of 2025 and Announcement of the Customs Tariff Commission of the State Council No.
6 of 2025; and (ii) embrace all essential administrative measures to suspend or remove the non-tariff countermeasures taken versus the United States considering that April 2, 2025.
After taking the abovementioned actions, the Parties will develop a system to continue discussions about economic and trade relations.
The representative from the Chinese side for these conversations will be He Lifeng, Vice Premier of the State Council, and the representatives from the U.S.
side will be Scott Bessent, Secretary of the Treasury, and Jamieson Greer, United States Trade Representative.
These discussions may be conducted alternately in China and the United States, or a third country upon contract of the Parties.
As needed, the 2 sides may carry out working-level assessments on relevant economic and trade issues.