US and China lower reciprocal tariffs after Geneva talks
Geneva, 12 May 2025 (dpa/MIA) - The US and China on Monday announced a reduction in their reciprocal import tariffs following talks in Geneva.
US tariffs on Chinese imports will go down to 30%, from 145%. Chinese tariffs on US imports will be reduced to 10%, from 125%.
The reduction is due to last for a period of 90 days.
The decision was made "recognizing the importance of their bilateral economic and trade relationship to both countries and the global economy," said the joint statement published by the White House.
The world's two largest economies wanted to move forward "in the spirit of mutual opening, continued communication, cooperation, and mutual respect," the statement said.
Photo: EPA
