5th Round of U.S.-China Talks: Economic Relations on the Rise

The Fifth Round of US-China Trade Talks Begins

According to a statement from the Chinese Ministry of Commerce, a Chinese delegation headed by Vice Premier for Economic Relations He Lifeng will hold trade consultations with the US delegation in Malaysia from October 24-27.

Notes from Previous Meetings

On October 18, Vice Premier He Lifeng held a video conference with US Secretary of the Treasury Scott Bessent and US Trade Representative Jamieson Greer, agreeing to start a new round of negotiations between the two countries as soon as possible.

Customs Tariffs and Trade Relations

US President Donald Trump announced on April 2 that additional customs tariffs would be imposed on trade partners including China. As a result, the customs tariff imposed by the US on China rose to 145%, while the tariff imposed by China on US goods increased to 125%.

In the initial rounds, the two country delegations adopted a unified approach, meeting in Geneva on May 10-11 and deciding to reduce customs tariffs for a period of 90 days. As part of this, the tariff imposed by the US on Chinese goods was reduced from 145% to 30%, and China's tariff on US goods was lowered from 125% to 10%.

After Previous Negotiations

The delegations of the two countries met in London on June 9-10, in Stockholm on July 28-29, and finally in Madrid on September 14-15, reaching agreements on various issues. In the last meeting, it was decided to come together again before the expiration of the temporary agreement on November 10.