China and the US agree to reduce tariffs after a 90-day truce in the trade war.

China and the United States announced a significant reduction in tariffs as part of a 90-day trade truce reached this weekend in Geneva following bilateral negotiations.

The agreement establishes that China will reduce tariffs on US products from 125% to 10%, while the United States will cut its tariffs on Chinese goods from 145% to 30% . The new tariffs will take effect on May 14, according to a joint statement issued Monday.

The meeting, considered the first formal approach since the start of the trade war , was led by Chinese Vice Premier He Lifeng , US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer.

The agreement does not include the “de minimis” exemptions for low-value or e-commerce shipments from China and Hong Kong , which the Trump administration terminated on May 2, according to a source familiar with the negotiations.

Monday's announcement leaves these duties unchanged , along with tariffs of 100% on electric vehicles and 50% on solar products imposed by former Democratic President Joe Biden.

Both sides also agreed to create a permanent bilateral consultation mechanism, with the possibility of meetings in China , the United States , or a third country . This channel will focus on resolving trade disputes and strengthening economic cooperation.

The trade war between the two powers escalated in April, with the imposition of record tariffs by the US government under the Donald Trump administration, which brought tariffs to historic levels.

During the meeting in Geneva , the topic of fentanyl , a substance linked to the opioid crisis in the United States , was also addressed for the first time.

Jamieson Greer noted that there was a “ striking commitment” by China to combat the illegal production and export of precursor chemicals .

For his part, Bessent emphasized the constructive tone of the talks and the Chinese government's willingness to move forward with mutual respect. " We saw a real willingness to address the imbalances and create a stable framework for cooperation," he stated.