Tariff Relief Offers Breathing Room, But Challenges Remain On May 12，2025, China and the U.S. issued the Geneva Joint Statement on Economic and Trade Talks, agreeing to significantly reduce tariffs. Within 90 days, the U.S. will lower its comprehensive tariffs on Chinese goods from 145% to 30% (including a 10% reciprocal tariff and a 20% fentanyl-related surcharge), while China will reduce tariffs on […]
