In a joint statement at the US-China economic and trade meeting in Geneva, the US and China have reached a trade agreement on a 90-day pause.
The U.S. will cut tariffs on Chinese goods to 30% (from 145%) for 90 days, while China will lower its levies to 10% (from 125%) for 90 days.
Excerpt from the Joint Statement
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.
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.
The parties will establish a mechanism to continue discussions about economic and trade relations. Representative from the Chinese side to these discussions will be Lifeng, Vice Premier of the State Council, and the representatives from the US side will be Scott Bessent, Secretary of the Treasury, and Jamieson Greer, United States Trade Representative. The discussions may be conducted ultimately in China and the United States or a third country upon agreement of the parties. As required, the two sides may conduct working consultations on relevant economic and world issues.
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BREAKING: The US and China have reached a trade agreement on a 90 day pause.
The U.S. will cut tariffs on Chinese goods to 30% (from 145%) for 90 days, while China will lower its levies to 10% (from 125%) for 90 days, according to US Treasury Secretary Bessent. pic.twitter.com/5c7frxxNoW
— Sawyer Merritt (@SawyerMerritt) May 12, 2025
U.S. and China agreed Monday to cut reciprocal tariffs by 115% for 90 days:
“That brings U.S. tariffs on Chinese goods down to 30%, and Chinese tariffs on U.S. imports to 10%.”
This sent stock market futures skyrocketing. China is also engaged on the fentanyl crisis in the U.S. pic.twitter.com/IhiTVrgL8p
— Paul A. Szypula (@Bubblebathgirl) May 12, 2025
Vigilant Fox posted clips of Howard Lutnick explaining the importance of tariffs and dismantling CNN’s Dana Bash’s argument.
Commerce Secretary Howard Lutnick came to CNN with a warning—and a number that stopped the conversation cold.
We cannot afford to continue with the status quo.
“America has a $1.2 trillion trade deficit,” he said.
“That means other people are selling US goods, more than we… pic.twitter.com/APNqiFdW3W
— The Vigilant Fox (@VigilantFox) May 11, 2025
Dana Bash wasn’t convinced.
She shifted the focus to inflation, claiming that Trump’s 2017 tariffs had driven up prices for American consumers.
But Lutnick pushed back, turning the spotlight on President Biden’s record instead.
“Oh no no no! Don’t talk about the Biden… pic.twitter.com/FeEpA38HuW
— The Vigilant Fox (@VigilantFox) May 11, 2025
Bash kept swinging—repeating CNN’s go-to line: “Tariffs are paid by the American consumer.”
Lutnick didn’t just disagree. He dismantled it.
“Well, I disagree with that, you know.”
Bash scrambled to defend herself: “Well… okay. But… many… most economists… I would say,… pic.twitter.com/opAZ8Jm0rD
— The Vigilant Fox (@VigilantFox) May 11, 2025
As the interview wrapped, Lutnick pulled back the curtain on what this fight is really about—and why it matters for the future.
“You saw the rates that were published on Liberation Day. Those countries can take those rates down, if they open their markets to Americans to… pic.twitter.com/Apj5cJQ3nF
— The Vigilant Fox (@VigilantFox) May 11, 2025
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