China, US Begin Tariff Rollback After Trade Talks in Geneva

The United States and China have begun implementing mutual tariff reductions following a key round of trade negotiations held in Geneva over the weekend. The changes took effect on Wednesday, offering temporary relief from the high tariffs imposed during the two countries' prolonged trade dispute.

The deal was reached after two days of closed-door talks between Chinese trade negotiator Li Chenggang and U.S. Trade Representative Jamieson Gree, where both sides reported “substantial progress.”

Key Tariff Changes

• U.S. tariffs on Chinese goods have been reduced from 145% to 30%.

• Chinese tariffs on U.S. goods have been lowered from 125% to 10%.

• The agreement includes a 90-day ceasefire to allow further negotiations.

The reductions apply to a wide range of goods, including steel, aluminum, electronics, appliances, and consumer products.

Temporary Relief

The tariff cuts follow months of economic pressure on both sides. Many Chinese manufacturers had suspended production or paused exports due to the high levies imposed earlier this year.

The new measures are expected to provide a short-term boost to supply chains and global trade confidence, though both governments have acknowledged the truce is temporary.

Further Talks Expected

President Donald Trump has indicated he may speak with Chinese President Xi Jinping later this week. While both sides have welcomed the current agreement, they remain cautious about long-term outcomes.

Beijing described the deal as a step forward, but officials said ongoing talks will be necessary to stabilize trade relations.