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Ref. :EIC 111/3
EIC 111/3/13
12 May 2025
(Updated on 14 May 2025)
Dear Sirs,
Further to Commercial Information Circulars (CICs) No. 309/2025 dated 3 April 2025, No. 327/2025 dated 9 April 2025, No. 345/2025 dated 10 April 2025, No. 346/2025 dated 11 April 2025 and No. 351/2025 dated 14 April 2025 on the US’ reciprocal tariff, the US and China on 12 May 2025 issued a joint statement on US-China economic and trade meeting in Geneva.
DETAILS
2.On 2 April 2025, the US President signed an executive order imposing a reciprocal tariff of an additional ad valorem duty on all imports from all trading partners. All articles imported into the customs territory of the US shall be subject to an additional ad valorem rate of duty of 10% on 5 April 2025 and all articles from specified trading partners imported into the customs territory of the US shall be subject to the specified country-specific ad valorem rates of duty on 9 April 2025. Subsequently, on 8 and 9 April 2025, the US President signed two executive orders modifying reciprocal tariff rates of trading partners. Among others, the reciprocal tariff of an additional ad valorem duty for articles of China (including articles of Hong Kong) is amended to 125% effective on 10 April 2025.
3.On 12 May 2025, the US and China issued a joint statement on US-China economic and trade meeting in Geneva. The parties commit to take actions by 14 May 2025 as specified in the joint statement. Amongst others, on the US’ reciprocal tariff, the US will (i) modify the application of the additional ad valorem rate of duty on articles of China (including articles of Hong Kong) set forth in Executive Order 14257 of 2 April 2025, by suspending 24 percentage points of that rate for an initial period of 90 days, while retaining the remaining ad valorem rate of 10% on those articles pursuant to the terms of said Order; and (ii) removing the modified additional ad valorem rates of duty on those articles imposed by Executive Order 14259 of 8 April 2025 (i.e. 84%) and Executive Order 14266 of 9 April 2025 (i.e. 125%).
4.For further details, please refer to the joint statement and the White House’s fact sheet:
Joint Statement on US-China Economic and Trade Meeting in Geneva
https://www.whitehouse.gov/briefings-statements/2025/05/joint-statement-on-u-s-china-economic-and-trade-meeting-in-geneva/
White House’s fact sheet
https://www.whitehouse.gov/fact-sheets/2025/05/fact-sheet-president-donald-j-trump-secures-a-historic-trade-win-for-the-united-states/
5.For enquiries concerning the content of this circular, please contact us at telephone number 2398 5405.
Yours faithfully,
(Miss Kwany KOU)
for Director-General of Trade and Industry
Note: While every effort is made to ensure the accuracy of the above information, the Department cannot guarantee this to be so and will not be held liable for any reliance placed on the same.