Washington, D.C., May 12: The United States and China have agreed to suspend their previously announced reciprocal tariffs for a 90-day period, according to a joint statement released Monday.
During this time, China will implement a 10% tariff on U.S. goods, while the U.S. will impose approximately 30% tariffs on Chinese imports.
The temporary truce reflects both countries’ recognition of the significance of their bilateral economic and trade relationship—not only to themselves but to the global economy. The joint statement emphasized their commitment to building a long-term, sustainable, and mutually beneficial trade partnership.
Both sides acknowledged progress in recent discussions and expressed optimism that continued dialogue could help resolve outstanding concerns. To that end, they plan to establish a formal mechanism for ongoing negotiations.
He Lifeng, Vice Premier of China’s State Council, will represent China in these discussions. On the U.S. side, Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will lead the talks.
Negotiations may take place alternately in China and the U.S., or in a third country, subject to mutual agreement. Working-level consultations on economic and trade issues may also be held as needed, the statement noted.
This development follows President Donald Trump’s earlier move to impose reciprocal tariffs on numerous countries with which the U.S. runs a trade deficit. Facing international pressure and active trade discussions, Trump paused those tariffs for 90 days starting April 9, while instituting a 10% baseline tariff on imports from all countries.
Trump had previously suggested that tariffs on Chinese goods could reach as high as 245%, while China had set tariffs on U.S. products at 125%. Since beginning his second term, Trump has reaffirmed his commitment to tariff reciprocity, signaling similar measures for countries like India to promote what he calls “fair trade.”
(With agency inputs)
