94Ha Viewpoint
The Government of the People’s Republic of China (“China”) and the Government of the United States of America (“the United States”),
Recognizing the importance of bilateral economic and trade relations to both countries and the global economy;
Recognizing the importance of a sustainable, long-term, and mutually beneficial bilateral economic and trade relationship;
In light of recent discussions between the two sides, believe that continued consultations will help address issues of concern to both sides in the economic and trade fields;
Continue to advance relevant work in the spirit of mutual openness, continued communication, cooperation, and mutual respect;
The two sides commit to take the following actions by May 14, 2025: Measures:
The United States will (i) amend the additional ad valorem tariffs on Chinese goods (including goods from the Hong Kong Special Administrative Region and the Macao Special Administrative Region) as provided for in Executive Order No. 14257 of April 2, 2025, of which 24% of the tariffs will be suspended for an initial 90 days, while retaining the remaining 10% tariffs on these goods as provided for in that Executive Order; and (ii) cancel the additional tariffs on these goods imposed pursuant to Executive Order No. 14259 of April 8, 2025 and Executive Order No. 14266 of April 9, 2025.
China will (i) accordingly amend the additional ad valorem tariffs on U.S. goods as provided for in Tax Commission Announcement No. 4 of 2025, of which 24% of the tariffs will be suspended for the first 90 days, while retaining the remaining 10% of the tariffs on these goods, and canceling the additional tariffs on these goods pursuant to Tax Commission Announcements No. 5 and No. 6 of 2025; (ii) take necessary measures to suspend or cancel the non-tariff countermeasures against the United States from April 2, 2025.
After taking the above measures, the two sides will establish a mechanism to continue consultations on economic and trade relations. The Chinese representative is Vice Premier He Lifeng, and the U.S. representative is Secretary of the Treasury Scott Bessant and U.S. Trade Representative Jamison Greer. The consultations can be held in China, the United States, or a third country agreed by both parties. As needed, the two sides may conduct working-level consultations on relevant economic and trade issues.
