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US, China Lower Tariffs for 90 Days

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US, China Lower Tariffs for 90 Days

by Sandra Rhodes
May 12, 2025 at 10:42 am
in News
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US, China Lower Tariffs for 90 Days

(Matt Anderson Photography/Getty Images)

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Trade negotiations between China and the U.S. progressed as the two countries announced a reduction in tariffs for 90 days.

The agreement was announced Monday morning from Geneva, Switzerland, where trade negotiations were held.

The tariffs announced by President Donald Trump on April 2 will be lowered from 145% to 30%, The Hill reported. Meanwhile, China will reduce its tariff rate against the U.S. from 125% to 10%.

The tariffs will be reduced starting Wednesday, Fox Business reported.

The two sides also agreed to continue trade talks, which include Chinese Vice Premier He Lifeng, U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer, according to a joint statement.

“The consensus from both delegations this weekend is neither side wants a decoupling,” Bessent said, according to The Associated Press. “And what had occurred with these very high tariff … was an embargo, the equivalent of an embargo. And neither side wants that. We do want trade.”

US Treasury Secretary Scott Bessent says the US and China now have a mechanism in place on trade, but the US still plans on doing a “strategic decoupling” from China https://t.co/F4N5qZln9Z pic.twitter.com/1aNTtq67IN

— Bloomberg TV (@BloombergTV) May 12, 2025

“China was assigned a reciprocal tariff rate of 34%,” Greer said in Geneva. “China was the only country that chose to implement retaliation against the United States for this reciprocal tariff. All other countries withheld and decided that they wanted to negotiate with the United States or simply not retaliate.”

“The president increased our tariff rates to offset Chinese retaliation,” he said. “And as you know, this escalated to a point where both sides had added 125% tariffs.”

From @WhiteHouse

🚨BREAKING: U.S. Announces China Trade Deal in Geneva pic.twitter.com/jGqqjKDW8a

— Fan Donald J. Trump Posts From Truth Social (@TrumpDailyPosts) May 11, 2025
Tags: China TariffsDonald TrumppoliticsUS Tariffsworld news
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Sandra Rhodes

Sandra Rhodes

IJR, Contributor Writer She was a Story Editor for Indpendent Journal Review since November 2022 and has written for IJR since February 2024. She has been in the newspaper business in various capacities since 1998.

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