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New U.S. And China Trade Deal Features Relaxed Tarrifs, Agreement To Work Together On New Policy
Zennie62Media, Inc’s ZennieReport.com has the news regarding the new U..S. China Trade Deal, reporting the following:
President Trump’s White House Press Office just sent over an announcement called “Joint Statement on U.S.-China Economic and Trade Meeting in Geneva“. The main point of the aggreement is a relaxed tariff structure of 10 percent, and elimination of the other tariff’s President Trump previously presented. “The United States will (i) modify the application of the additional ad valorem rate of duty on articles of China (including articles of the Hong Kong Special Administrative Region and the Macau Special Administrative Region) set forth in Executive Order 14257 of April 2, 2025, by suspending 24 percentage points of that rate for an initial period of 90 days, while retaining the remaining ad valorem rate of 10 percent on those articles pursuant to the terms of said Order; and (ii) removing the modified additional ad valorem rates of duty on those articles imposed by Executive Order 14259 of April 8, 2025 and Executive Order 14266 of April 9, 2025, ” Trump’s press release reads.
For its part, China agrees and so the press release reads “China will (i) modify accordingly the application of the additional ad valorem rate of duty on articles of the United States set forth in Announcement of the Customs Tariff Commission of the State Council No. 4 of 2025, by suspending 24 percentage points of that rate for an initial period of 90 days, while retaining the remaining additional ad valorem rate of 10 percent on those articles, and removing the modified additional ad valorem rates of duty on those articles imposed by Announcement of the Customs Tariff Commission of the State Council No. 5 of 2025 and Announcement of the Customs Tariff Commission of the State Council No. 6 of 2025; and (ii) adopt all necessary administrative measures to suspend or remove the non-tariff countermeasures taken against the United States since April 2, 2025.”
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