May 12, 2025 , the United States and China announced a preliminary agreement to reduce customs rates after economic and trade negotiations in Geneva .
The main points of the arrangement: the United States suspend 24% of import goods from China for 90 days , keeping a base duty at a level of 10%. All changed additional ad valorem also abolished . China, in turn , suspends a duty of 24% for 90 days, keeping a duty of 10% for some goods, as well as abolishing the non -tariff countermeasures introduced 2 . These steps aim to reduce the voltage in trade relations and create the conditions for further negotiations. Duties for the United States are reduced from 125% to 10% for imports from China. Duties for China are reduced from 145% to 30% ( base duty - 10%, plus additional fentanyl allowance ).
The parties agreed to create a mechanism for further consultations that will work in the US, China or third countries. The negotiations will participate in HE Lifen ( Viceremier of the State Council of China), Scott Bessent ( Minister of Finance ) and Jajmisson Grir ( US Store Representative Nevertheless , problems, such as fentanyl , have not yet been resolved and remain subject to discussions.
