China and the United States have reached important consensus! Tariffs will return to pre-war levels of April tariffs!

Xinhua News Agency, Geneva, May 11th Sino-US high-level economic and trade talks were held in Geneva, Switzerland from May 10th to 11th. This time, the high-level economic and trade leaders of China and the United States reached an important consensus, and both sides agreed to establish a Sino-US economic and trade consultation mechanism. China and the United States will finalize relevant details as soon as possible, and will issue a joint statement reached during the talks on May 12th.

The Government of the People's Republic of China (the "PRC") and the Government of the United States of America (the "U.S."), recognizing the importance of bilateral economic and trade relations to both countries and the global economy; Recognizing the importance of sustainable, long-term and mutually beneficial bilateral economic and trade relations; In view of the recent discussions between the two sides, it is believed that continuous consultation will help solve the concerns of both sides in the economic and trade fields; In the spirit of mutual openness, continuous communication, cooperation and mutual respect, continue to promote relevant work; The two parties promised to take the following measures before May 14, 2025: The United States will (1) amend the additional tariffs on Chinese goods (including goods from the Hong Kong Special Administrative Region and Macao Special Administrative Region) stipulated in Executive Order No. 14257 of April 2, 2025, of which 24% tariffs will be suspended for the initial 90 days, while retaining the remaining 10% tariffs on these goods in accordance with the provisions of the executive order; (2) Cancel the additional tariffs on these goods in accordance with Executive Order No. 14259 of April 8, 2025 and Executive Order No. 14266 of April 9, 2025. China will (1) accordingly amend the ad valorem tariffs imposed on U.S. goods stipulated in Taxation Commission Announcement No. 4 of 2025, of which 24% of the tariffs will be suspended for the initial 90 days, while the remaining 10% tariffs on these goods will be retained, and the additional tariffs on these goods will be cancelled in accordance with Taxation Commission Announcements No. 5 and No. 6 of 2025; (2) Take necessary measures to suspend or cancel non-tariff countermeasures against the United States starting from April 2, 2025. After taking the above measures, the two sides will establish a mechanism to continue consultations on economic and trade relations. The Chinese representative is Vice Premier He Lifeng of the State Council, and the American representatives are Treasury Secretary Scott Bessent and U.S. Trade Representative jamison greer. Negotiations may be conducted in China, the United States, or a third country agreed by both parties. As needed, the two sides can conduct working-level consultations on relevant economic and trade issues.

According to the joint statement, China and the United States will reduce the tariffs imposed on each other to the level of April this year, and the final tariff arrangement will be adjusted according to the results of follow-up consultations. Sino-US trade relations are expected to enter a periodic fluctuation cycle after this tariff adjustment. With the reduction of import tariffs, the demand for goods in the U.S. market is expected to show a significant growth trend, which will directly lead to a substantial increase in cross-border logistics transportation volume, thus bringing new challenges to the overall supply chain capacity. As a cutting-edge enterprise of Sino-US logistics services in South China, Shenzhen Great Link Co., Ltd. has always been committed to ensuring the stability and smoothness of Sino-US cross-border logistics channels, and will continue to provide customers with competitive sea and air freight price solutions.