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China and US Reach Major Trade Breakthrough, Slash Tariffs
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2025-05-15
In a surprising and significant development, the United States and China announced on May 12, 2025, a major breakthrough in their ongoing trade conflict by agreeing to drastically reduce tariffs on each other’s goods for an initial 90-day period. This move marks a critical step toward de-escalating a trade war that has disrupted global markets, supply chains, and economic growth. According to a joint statement, both nations acknowledged the importance of a sustainable, long-term, and mutually beneficial economic and trade relationship. Under the agreement, the US will temporarily cut its overall tariffs on Chinese goods from 145% to 30%, while China will reduce its levies on American imports from 125% to 10%. These tariff reductions were implemented on May 14. However, certain US tariffs related to fentanyl remain in place. China also agreed to suspend or cancel several non-tariff countermeasures imposed on the US, including export restrictions on rare-earth minerals and blacklisting some American companies. Economic pressures have mounted on both sides: the US recently experienced its first quarterly GDP contraction since 2022, and China’s exports to the US sharply declined, impacting its manufacturing sector. The agreement is viewed as a "best case scenario" start to broader negotiations aimed at further tariff reductions. Both countries will continue talks through a newly established mechanism led by Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent, with discussions alternating between China, the US, or a third country. US officials emphasized a mutual desire to avoid economic decoupling and promote balanced trade. This breakthrough signals hope for improved US-China economic relations and global market stability in the months ahead.
中美貿易衝突
關稅
降稅
貿易平衡
美中關係
China-US trade conflict
tariff
tax reduction
trade imbalance
U.S.-China Relationship
德國杜塞道夫線材展
扣件
國際展會
惠達雜誌
匯達實業
外銷媒合
廣告刊登
螺絲五金
五金工具
緊固件
台灣扣件展
印度新德里螺絲展
越南河內螺絲展
墨西哥瓜達拉哈拉螺絲展
美國拉斯維加斯螺絲暨機械設備展
波蘭克拉科夫螺絲展
義大利米蘭螺絲展
德國司徒加特螺絲展
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FASTENER FAIR MEXICO
FASTENER POLAND
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