Tax rates of 125%→10% and 24% are suspended for 90 days, and tariffs on the United States begin to be adjusted

Source: CCTV News

Starting from 12:01 today (May 14th), China's adjusted measures for imposing additional tariffs on imported goods originating from the United States have come into effect. The relevant matters are as follows:

1. Adjust the additional tariff rate specified in the "Announcement of the Tariff Commission of the State Council on Imposing Additional Tariffs on Imported Goods Originating from the United States" (Announcement No. 4 of the Tariff Commission in 2025). The rate will be adjusted from 34% to 10%, and the 24% additional tariff rate on imports from the United States will be suspended for 90 days.

2. Cease implementing the additional tariff measures specified in the "Announcement of the Tariff Commission of the State Council on Adjusting the Measures for Imposing Additional Tariffs on Imported Goods Originating from the United States" (Announcement No. 5 of the Tariff Commission in 2025) and the "Announcement of the Tariff Commission of the State Council on Adjusting the Measures for Imposing Additional Tariffs on Imported Goods Originating from the United States" (Announcement No. 6 of the Tariff Commission in 2025).

Understand How China - US Tariffs Have Changed in One Chart

On May 12th, local time, the joint statement of the China - US Economic and Trade Talks in Geneva was released. The two sides significantly reduced bilateral tariff levels. This measure meets the expectations of producers and consumers in both countries and is in line with the interests of both countries and the common interests of the world. Here is a chart to help you understand how the tariffs have changed.

The Spokesperson of the Ministry of Commerce Commented on the Joint Statement of the China - US Economic and Trade Talks in Geneva

The spokesperson of the Ministry of Commerce stated that the high - level China - US economic and trade talks have achieved substantial progress. The bilateral tariff levels have been significantly reduced. The United States has removed a total of 91% of the additional tariffs it imposed, and China has correspondingly removed 91% of its counter - tariffs; the United States has suspended the implementation of the 24% "reciprocal tariffs", and China has correspondingly suspended the implementation of its 24% counter - tariffs. This measure meets the expectations of producers and consumers in both countries and is in line with the interests of both countries and the common interests of the world. It is hoped that, based on these talks, the United States will continue to work with China to completely correct the wrong practice of unilaterally imposing tariffs, continuously strengthen mutually beneficial cooperation, maintain the healthy, stable, and sustainable development of China - US economic and trade relations, and jointly inject more certainty and stability into the world economy.

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