U.S. Suspends Bulk of Tariffs on Chinese Goods -- WSJ

Dow Jones05-12

By Brian Schwartz

The U.S. and China said Monday they have agreed to suspend most of the tariffs on each other's goods while further trade negotiations continue.

The U.S. said it would lower its "reciprocal" tariff on Chinese goods to 10% from 125%. China said it would lower its tariff on U.S. goods to 10% from 125%.

U.S. tariffs related to fentanyl and other measures will remain.

The two countries said they "will establish a mechanism to continue discussions about economic and trade relations."

The announcement concludes two days of marathon talks in Switzerland aimed at easing tensions over trade between the world's two biggest economies.

Since starting his second term, Trump has slapped 145% tariffs on Chinese goods while Beijing has hit back with 125% duties on imports from the U.S. That has led bilateral trade to nearly dry up, heightening inflationary pressure in the U.S. and threatening the export engine powering Chinese growth.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

May 12, 2025 03:10 ET (07:10 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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