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 the two countries and the global economy;
Recognizing the importance of sustainable, long-term and mutually beneficial bilateral economic and trade relationships;
In view of recent discussions between the two sides, I believe that continued negotiations will help resolve the concerns of the two sides in the economic and trade fields;
Continue to advance related work in the spirit of mutual openness, continuous communication, cooperation and mutual respect;
The two sides promised to take the following steps by May 14, 2025:
The United States will (1) amend the ad valorem tariffs imposed on Chinese goods (including products from the Hong Kong Special Administrative Region and Macau Special Administrative Region) as stipulated in Executive Order No. 14257 of April 2, 2025. Of these, the 24% tariff will be suspended for the first 90 days, while retaining the remaining 10% tariff on these goods as stipulated in the Executive Order; (2) abolish the additional tariffs imposed on these goods in accordance with Executive Order No. 14259 of April 8, 2025 and Executive Order No. 14266 of April 9, 2025.
China will (1) revise the ad valorem tariffs imposed on US goods as stipulated in the Tax Commission Notice No. 4 of 2025 accordingly. Of these, the 24% tariff will be suspended for the initial 90 days, while retaining the remaining 10% tariff on these products, and abolish the additional tariffs imposed on these goods in accordance with the Inland Revenue Commission Notice No. 5 and No. 6 of 2025; (2) take necessary measures to suspend or cancel non-tariff countermeasures against the US from April 2, 2025.
After adopting the above measures, the two sides will establish a mechanism to continue negotiations on economic and trade relations. China is represented by Vice Premier He Lifeng of the State Council, and the US representatives are Treasury Secretary Scott Bessent and US Trade Representative Jamison Greer. Negotiations can take place in China, the United States, or a third country agreed upon by both parties. If necessary, the two sides can conduct working-level consultations on relevant economic and trade issues. (Ministry of Commerce)
