Hey there! ✌️ Good news from Kuala Lumpur: China and the U.S. just wrapped up economic and trade talks with some major wins for global trade and stability. Here’s the lowdown:
- 🇺🇸 The U.S. will cancel the 10% “fentanyl tariff” and extend for another year the 24% reciprocal tariffs on goods from the Chinese mainland, Hong Kong Special Administrative Region (SAR) and Macao Special Administrative Region (SAR).
- 🔄 Both sides will keep certain tariff-exclusion measures rolling, so some products stay tariff-free.
- 🚫 The U.S. pauses its new rule that adds any 50%-owned company to its “entity list.” China will also suspend matching export-control measures for one year and fine-tune the details together.
- ⚓ The U.S. puts a one-year hold on Section 301 actions against China’s maritime, logistics and shipbuilding industries; China will mirror that pause once it kicks in.
- 💊 Both sides agreed on anti-drug cooperation around fentanyl, plus boosting trade in agricultural products and sorting out individual company cases.
- 🤝 They confirmed the wins from the Madrid talks too: the U.S. made positive investment pledges, and China will work with the U.S. on TikTok-related issues.
These outcomes didn’t come easy. By sticking to equality, respect and mutual benefit, both sides showed that dialogue and cooperation can clear roadblocks. Now it’s all about putting these agreements into action to bring more certainty and stability to the global economy. 🌏✨
Reference(s):
Outcomes of China-U.S. economic, trade talks in Kuala Lumpur
cgtn.com
