INSUBCONTINENT EXCLUSIVE:
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
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
