The Government of the People's Republic of China (" China ") and the Government of the United States of America (" United States ")
Recognize the significance of bilateral economic and trade relations to the economies of the two countries and the global economy;
Recognize the importance of sustainable, long-term and mutually beneficial bilateral economic and trade relations;
In view of the recent discussions between the two sides, it is believed that continuous consultations will help address the concerns of both sides in the economic and trade fields.
In the spirit of mutual openness, continuous communication, cooperation and mutual respect, continue to promote the relevant work;
Both sides commit to taking the following measures before May 14, 2025:
The United States will (1) amend the AD valorem tariffs imposed on Chinese goods (including goods from the Hong Kong Special Administrative Region and the Macao Special Administrative Region) as stipulated in Executive Order 14257 of April 2, 2025. Among them, the 24% tariff will be suspended for the initial 90 days, while retaining the imposition of the remaining 10% tariff on these goods in accordance with the provisions of this executive order. (2) Abolish the additional tariffs imposed on these goods in accordance with Executive Orders No. 14259 of April 8, 2025 and No. 14266 of April 9, 2025.
China will (1) correspondingly revise the AD valorem tariffs imposed on US goods as stipulated in the Tariff Commission's Announcement No. 4 of 2025. Among them, the 24% tariff will be suspended for the initial 90 days, while the remaining 10% tariff will be retained for these goods, and the additional tariffs imposed on these goods in accordance with the Tariff Commission's Announcements No. 5 and No. 6 of 2025 will be cancelled; (2) Take necessary measures to suspend or cancel non-tariff countermeasures against the United States as of April 2, 2025.
After taking the above measures, the two sides will establish a mechanism to continue consultations on economic and trade relations. The representative of the Chinese side is He Lifeng, Vice Premier of The State Council. The representatives of the US side are Scott Bessent, Secretary of the Treasury, and Jamison Greer, U.S. Trade Representative. The consultation can be conducted in China, the United States, or a third country agreed upon by both sides. As needed, the two sides can conduct working-level consultations on relevant economic and trade issues.
