United States and China announce trade agreement
Both countries agree to suspend 34% tariffs for 90 days, but maintain 10% tariff during pause
The governments of the United States and China today issued a joint statement following negotiation of a trade agreement that aims to reduce tariffs and eliminate retaliatory measures.
According to a White House fact sheet, the agreement provides that both countries, by May 14, 2025, will:
- Suspend their 34% tariffs announced in early April 2025 for 90 days, while maintaining a 10% tariff during the pause
- Remove additional tariffs and other retaliatory measures imposed later in April 2025
After these changes become effective, both countries agreed to establish a mechanism to continue important discussions about trade and economics.
Read the executive order modifying reciprocal tariff rates to reflect the discussions.