GENEVA — On May 12, trade officials from the United States and China agreed to reduce tariffs while holding trade talks in Switzerland over the weekend.

Chinese imports to the United States will be reduced from 145% to 30% for 90 days. The Chinese retaliatory duties on the United States will go from 135% to 10% for American goods.

Following the news, the US Meat Export Federation (USMEF) issued a statement regarding the new cooperation between the two sides. 

“USMEF greatly appreciates the efforts of US Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent to negotiate this agreement with their Chinese counterparts,” said Dan Halstrom, president and chief executive officer of USMEF. “Although this is a temporary pause, we are hopeful that it is the first step toward restoring access to China for US pork and beef.”

The National Pork Producers Council (NPPC) also provided insights into what the move means for the pork export sector. The trade association stated that exported US pork to China will still face a minimum total tarrif rate of 57% after facing a 172% tariff rate before the new negotiation.

“America’s pork producers are encouraged by the temporary tariff reduction agreement reached by the US and China," said Duane Stateler, president of NPPC. "We look forward to the continued collaboration and engagement between both countries to further reduce tariff and non-tariff barriers to trade. No other country holds a candle to our export opportunities in China, as many of our exported pork products, such as offals, are not widely consumed in the US and have nowhere to go.”

Negotiations occurred between He Lifeng, a vice premier for China, and Greer and Bessent for the United States.

The joint statement said China will also suspend or cancel non-tariff countermeasures that have been in place since April 2. 

Read more about the stakes of the trade talks over the weekend.