China-U.S. Geneva Trade Talks Joint Statement: China to Impose Ad Valorem Tariffs on U.S. Goods

ChainCatcher reports that the China-U.S. Geneva trade talks joint statement indicates that China will accordingly amend the Tax Committee Announcement No. 4 of 2025 regarding the ad valorem tariffs imposed on U.S. goods: 24% of the tariffs will be suspended for the initial 90 days, while retaining the remaining 10% tariffs on these goods, and canceling the additional tariffs on these goods according to Tax Committee Announcements No. 5 and No. 6 of 2025; necessary measures will be taken to suspend or cancel non-tariff countermeasures against the U.S. starting from April 2, 2025.