This week, the governments of China and the United States issued a joint statement in Geneva, Switzerland, announcing a series of tariff adjustment measures aimed at easing trade tensions and injecting much-needed stability into the global economy. The statement followed a high-level economic and trade meeting held over the weekend, during which both sides reaffirmed the critical role of bilateral trade in supporting the economies of both countries as well as the broader global market.
According to the agreement, the U.S. will remove 91% of the additional tariffs previously imposed on Chinese goods, and China will reciprocate by canceling an equal percentage of tariffs on U.S. imports. Additionally, both countries will suspend the imposition of a 24% ad valorem tax on certain imported products for a period of 90 days.
Both sides have pledged to initiate implementation measures by Wednesday and to establish a long-term mechanism for continued economic and trade consultations. A spokesperson from China’s Ministry of Commerce stated that the latest round of talks has achieved substantive progress, significantly reducing bilateral tariff levels. This outcome meets the expectations of manufacturers and consumers in both countries and aligns with the interests of the global community. China also urged the U.S. to fully correct its unilateral tariff actions and further strengthen mutually beneficial cooperation.
During a meeting with WTO Director-General Ngozi Okonjo-Iweala in Geneva, Chinese Vice Premier He Lifeng emphasized the importance of resolving disputes through equal dialogue under the WTO framework, safeguarding multilateralism, and promoting free trade to ensure stability in global industrial and supply chains.
Against the backdrop of major tariff reductions and temporary suspensions, paper products—long impacted by trade frictions—stand to benefit directly from reduced costs and smoother customs clearance. This development is expected to revive cross-border order flows, ease price volatility in raw and finished paper materials, and bring positive momentum to downstream industries such as printing and packaging.
In this new trade environment, companies with stable supply chains and international experience are poised to stand out. As a paper export enterprise with years of industry expertise, China Paper offers comprehensive quality control systems and flexible customization capabilities, delivering cost-effective solutions to global clients. Now is a pivotal time to choose a reliable supplier and seize emerging trade opportunities. We welcome partners worldwide to collaborate with China Paper and explore new markets together.
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