Beijing, May 12 (Prensa Latina) China published the joint statement issued with the United States following trade negotiations, which proposes a mutual reduction in tariffs and other detente measures.

According to the Ministry of Commerce, both sides recognized the importance of a sustainable, long-lasting, and mutually beneficial bilateral economic relationship, not only for their national economies but also for global economic stability.

As part of the agreements, the United States is committed to eliminate 91 percent of the additional tariffs imposed by three executive orders issued in April 2025. It also modified the collection of the remaining 34 percent, known as the “reciprocal tariff,” temporarily suspending 24 percent for 90 days and maintaining the remaining 10 percent.

In return, China eliminated 91 percent of the tariffs imposed as a countermeasure on US products, temporarily suspended 24 percent, and left intact the remaining 10 percent of the tariffs it had initially declared as a countermeasure to Washington’s 34 percent tariff. China also adjusted or eliminated non-tariff actions against the United States.

Both nations agreed to establish a permanent mechanism for economic and trade consultations to address issues of mutual interest, which will be held in either country or in third countries by agreement.

According to the Ministry of Commerce, this agreement represents an important step in the normalization of trade relations between the two powers, as it significantly reduces tariff barriers and injects greater predictability into global markets.

China emphasizes that the two countries expressed their willingness to continue moving in the same direction, with the goal of fully correcting unilateral tariff imposition practices and promoting mutually beneficial cooperation.

jrr/llp/ro/idm