On May 12, China and the United States announced a "Joint Statement of the China-US Geneva Economic and Trade Talks," reaching consensus on several tariff issues with measures to be implemented by May 14, 2025. China will cancel additional tariffs on some commodities as per Tax Committee Announcements No. 5 and No. 6 of 2025. However, the suspension on imports of U.S. logs (Customs Announcement No. 29 of 2025) remains in effect, meaning U.S. logs continue to be banned from the Chinese market despite tariff reductions elsewhere. The tariff adjustments have already boosted trade activity ...