This morning the governments of the US and China released a Joint declaration concluding negotiations between the delegations of the two nations to the World Trade Organization in Geneva in which they announce an agreement on the reduction of tariffs customs duties applied by both parties, the value of which has been enormously high after the American president Donald Trump had signed executive orders that had imposed "reciprocal duties" to China that were added to the previous tariff increases, which was followed by the response of Beijing had adopted similar countermeasures.

With the statement, in which the United States and Beijing recognize the importance of their bilateral economic and trade relations for both countries and for the global economy, the parties committed to adopting various measures by next Wednesday which provide for a commitment on the US side to cancel tariffs 91% on Chinese goods imposed by Executive Order 14259 of 8 April and with Executive Order 14266 of 9 April and a Modify the 34% reciprocal duties imposed under the order 14257 of last April 2, with the suspension for the 90-day duration of the imposition of 24% duties and the maintenance of the remaining duties of 10%. On the Chinese side, it is 91% duty cancellation on U.S. goods planned and, about the 34% countervailing figures adopted in response to the duties American reciprocal agreements, suspension for 90 days is envisaged of the taxation of 24% and the maintenance of the remaining 10%.