From May 10 to 11, 2025, in the picturesque Geneva, Switzerland, a high-level economic and trade meeting between China and the United States, which attracted worldwide attention, came to a successful conclusion. The talks came at a critical time when the global economy was facing many challenges and uncertainties. As the world's top two economies, the direction of the economic and trade relations between China and the United States not only profoundly affects the well-being of the people of the two countries, but also affects the pulse of the global economy. Against this background, China and the United States, with sincerity and determination to resolve economic and trade issues, carried out extremely candid, in-depth and constructive exchanges, and finally made substantial progress. The important consensus reached has injected a "boost" into the stable development of bilateral economic and trade relations.
At the level of tariffs and market access, the US has clearly signaled that it will review and evaluate its current tariff policy toward China. The US plans to adjust the high tariffs on some goods, such as intending to significantly reduce the tariff on infant products from 145% to 80%. This move will undoubtedly have a positive impact on bilateral trade. According to the "2025 US Export Report to China" released by the US-China Business Council, US exports to China fell in 2024, down 2.8%, and the export value fell to US$140.7 billion. Despite this, the related trade still supports 531,232 jobs. This tariff adjustment is expected to inject new vitality into bilateral trade and reverse the decline in exports.
In response, China also responded positively and implemented a temporary tariff exemption policy for some US goods, demonstrating China's sincerity in promoting the development of bilateral trade. Not only that, China is determined to further expand its opening up, and will provide American companies with broader investment opportunities and market space in key areas such as finance, technology, and agriculture. Taking agriculture as an example, China, as a major pork producer in the world, produces about 57 million tons of pork annually, accounting for nearly 50% of the world's total. The huge market demand provides a broad space for US agricultural products to enter the Chinese market. However, data released by the US Department of Agriculture on April 24 showed that as of April 17, China canceled 12,000 tons of US pork orders, and the purchase volume plummeted to 5,800 tons, setting a single-week low in 2025, a 72% drop from the previous week. However, if China further opens up its market, it is expected to change the current situation of US pork being cold in the Chinese market and open up new sales channels for US agricultural products.
In the field of supply chain and technology cooperation, China and the United States have also achieved remarkable results. The two sides have reached an intention for in-depth cooperation in frontier areas such as climate change, energy transformation, and digital economy, demonstrating the responsibility of the two countries on global issues. The United States plans to vigorously expand the export scale of photovoltaic equipment to China, help optimize and upgrade China's energy structure, and promote China's transformation to green and sustainable development. At the same time, China will simultaneously open up more green technology markets to promote technical exchanges and industrial coordinated development in this field between the two sides, and achieve mutual benefit and win-win results. In addition, the two sides also conducted in-depth discussions on cooperation in agricultural product trade and financial services, striving to tap more cooperation potential, create more favorable conditions for bilateral trade and investment, and promote Sino-US economic and trade relations to a new level.
China demonstrated its responsibility as a major country in actively promoting global economic development in this meeting. In recent years, China has actively expanded its foreign cooperation and continuously optimized its trade layout by continuously deepening cooperation with ASEAN, Africa and countries along the “Belt and Road”. This diversified trade strategy has effectively reduced its dependence on exports to the United States and enhanced the resilience of economic development. At the same time, China has vigorously developed digital trade, actively reconstructed the global consumption chain, and broken the traditional pattern with innovative trade models. This diversified and dynamic trade layout has, to a certain extent, weakened the impact of the United States’ “unipolar hegemony” on the global trade order and strongly promoted the vigorous rise of the regionalized trade system. Against the severe background of many uncertainties such as high inflationary pressure and urgent reconstruction of the supply chain in the global economy, China has actively participated in and promoted the achievements of the China-US economic and trade talks, managed differences through institutionalized consultations, and demonstrated its responsible attitude towards global economic development.
The results of this Sino-US economic and trade talks are not only of great significance to bilateral economic and trade relations, but also have a far-reaching impact on the global economic landscape. During the talks, Asian stock markets generally rose, the RMB exchange rate stabilized, and the international community's recognition of the "de-risking" path increased significantly. These positive market reactions fully reflect the strong influence of Sino-US cooperation trends on global market expectations. China has always played an important role as a stabilizer and promoter in global economic development. In the future, China will continue to uphold the principles of mutual respect, peaceful coexistence, and win-win cooperation, and contribute more Chinese wisdom and strength to the stability and prosperity of the global economy through equal dialogue and consultation, and work with other countries to jointly respond to global challenges and create a new situation for world economic development.
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