China and the United States announced a landmark agreement to roll back tariffs and resume trade dialogue, signaling a thaw in recent economic tensions and opening pathways for expanded collaboration. The deal, finalized during high-level talks in Geneva, aims to stabilize bilateral commerce while addressing broader global economic concerns.
Under the agreement, the U.S. committed to lifting 91% of its additional duties on Chinese goods imposed since April, with 24% suspended for 90 days. China reciprocated by removing 91% of its counter-tariffs, mirroring the phased suspension framework. Both sides pledged to finalize adjustments by May 14.
Luo Zhenxing, an associate research fellow at the Chinese Academy of Social Sciences, attributed the swift progress to the tangible economic toll of recent tariff hikes. “Prohibitive duties had brought trade flows to a near halt, making negotiations urgent for both economies,” he told China Media Group.
The deal includes a new dialogue mechanism co-chaired by senior officials to address ongoing trade issues and explore cooperation in emerging sectors like advanced manufacturing and technology. “Expanding the ‘cooperation pie’ could redefine Sino-U.S. economic ties,” said Gong Jiong, an economics professor at the University of International Business and Economics.
While immediate relief is expected for industries affected by halted shipments, experts caution that long-term stability hinges on sustained diplomatic engagement. The agreement notably avoids addressing non-tariff barriers and geopolitical tensions, leaving room for future negotiations.
