China to adjust tariff rates on U.S. goods on May 14

China will reduce the additional tariffs on products imported from the United States from 34 percent to 10 percent, effective from 12:01 p.m. on Wednesday, the Customs Tariff Commission of the State Council announced on Tuesday.

The commission said the 24 percent tariff rate on U.S. goods will be paused for 90 days.

The move comes as an implementation of the significant consensus reached during the high-level China-U.S. meetings over the weekend.

The additional tariff measures outlined in Announcement No. 5 [2025] and Announcement No. 6 [2025], concerning the adjustment of additional tariffs on U.S. imports, will also be terminated at the same time on Wednesday.

This substantial reduction in bilateral tariff levels between China and the United States aligns with the expectations of producers and consumers in both countries. It is conducive to the economic and trade exchanges between the two nations and beneficial to the global economy, the commission said.