The United States cancels tariffs on goods imposed in April

Odaily Planet Daily News According to the Joint Statement of the Sino-US Geneva Economic and Trade Talks, the United States will amend the ad valorem tariffs imposed on Chinese goods (including goods from the Hong Kong Special Administrative Region and the Macao Special Administrative Region) stipulated in Executive Order No. 14257 of April 2, 2025, of which 24% of the tariffs will be suspended for the initial 90 days, while retaining the remaining 10% tariffs imposed on these goods in accordance with the provisions of the executive order; (ii) cancel the additional tariffs on these goods in accordance with Executive Order No. 14259 of April 8, 2025 and Executive Order No. 14266 of April 9, 2025. China will (i) accordingly amend the additional ad valorem tariffs on U.S. goods as provided for in Tax Commission Announcement No. 4 of 2025, suspending the implementation of the 24% tariff for the first 90 days, while retaining the remaining 10% tariff on these goods and cancelling the additional tariffs on these goods pursuant to Tax Commission Announcements No. 5 and No. 6 of 2025; and (ii) take necessary measures to suspend or cancel non-tariff countermeasures against the United States from April 2, 2025.