On May 12 (local time), U.S. President Donald Trump delivered a statement at the White House, announcing a "comprehensive reset" in U.S.-China bilateral relations. The announcement followed recent U.S.-China talks held in Geneva, which Trump described as "productive," resulting in interim agreements.
Trump stated that both sides have agreed to reduce all tariffs imposed after April 2, 2025, to a uniform rate of 10% for a period of 90 days. This window is intended to allow continued negotiations on broader structural trade issues.
"We have achieved a comprehensive reset with China. I have no intention of hurting China-I want China to become more open to the United States," Trump said in his remarks. He added that current U.S.-China relations are "very, very good" and hinted that more cooperative initiatives are in the pipeline.
Although tariffs on certain products will be reduced, Trump made it clear that duties on Chinese imports of automobiles, steel, aluminum, and pharmaceuticals will remain at current levels. "A 145% tariff would basically mean decoupling-because nobody would trade under those conditions," Trump emphasized, adding that such extreme rates are unlikely to return.
This renewed round of dialogue between the U.S. and China is being viewed as a major step toward easing bilateral tensions in recent years and is expected to trigger positive reactions across global markets.
(Adapted from China News Service · Washington | May 12, 2025)
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