---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/29528910.md"
description: "Tariffs slashed, great news to celebrate!On May 12, the results of the US-China trade negotiations in Geneva were announced today: significant tariff reductions!Original news quote:Foreign media reported that the US reduced tariffs on China from 145% to 30%, with another 24% temporarily suspended for 90 days. China reduced tariffs on the US from 125% to 10%, with another 24% temporarily suspended for 90 days.However, Chinese media stated that in the reciprocal tariffs, the US cut to 10%, China cut to 10%, and both sides temporarily suspended another 24%.Contradictory? How to understand?Note that this is not contradictory. After Trump took office, the tariffs imposed on us were divided into multiple rounds:a. February this year: Initially, using fentanyl as an excuse, a 10% tariff was imposed on Chinese exports to the US.b. By March, another 10% was added, bringing the cumulative tariff rate to 20%.This was the 20% tariff Trump imposed separately on China using fentanyl as an excuse before universally imposing "reciprocal tariffs" on global trade partners. Dolphin Research here briefly refers to it as the "fentanyl tariffs."Then, in this wave of uniform global trade war, reciprocal tariffs were first imposed on China:April 2: A 34% tariff was imposed on China (the one allegedly exported with one click in Excel)—bringing it to 54%.April 8: Both sides retaliated, and the US added an additional 50% tariff, bringing the reciprocal tariff portion to 84% and the total tariff to 104%.April 9: Escalation continued, with an additional 41% added to the reciprocal tariff on top of the 84%, bringing it to 125%. Combined with the fentanyl tariffs, the total reached 145%.What is the actual negotiation result?The current negotiation result is:a. US to China: 1) Reciprocal tariff portion: The 40% and 50% retaliatory tariffs added on April 8 and 9 are completely canceled. Of the 34% tariff exported with one click on April 2, 10% remains, and 24% is temporarily suspended for 90 days to leave room for negotiation. 2) Fentanyl portion: The full 20% remains.b. China to the US: Since it’s mainly reciprocal tariffs, China’s response is a one-to-one replication of the US’s actions. China has no other substantive universal tariffs on the US.The final temporary result is, counting from Trump’s second term, the US imposes 30% + 24% (suspended) on China, and China imposes 10% + 24% (suspended) on the US.How to interpret?Clearly positive: With overall tax rates kept relatively low, the key is the 90-day suspension period. This is undoubtedly great news for global markets.Of course, there will be ongoing tug-of-war, but in today’s globalized division of labor: rare earths vs. semiconductors, both sides still have cards to play.The capital market will definitely celebrate with a rally. $Vista GLD(VGZ.US) $HSTECH ETF(03032.HK)"
datetime: "2025-05-12T08:37:41.000Z"
locales:
  - [en](https://longbridge.com/en/topics/29528910.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/29528910.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/29528910.md)
author: "[Dolphin Research](https://longbridge.com/en/news/dolphin.md)"
---

# Tariffs slashed, great news to celebrate!On May 12…


### Related Stocks

- [VGZ.US](https://longbridge.com/en/quote/VGZ.US.md)
- [03032.HK](https://longbridge.com/en/quote/03032.HK.md)

## Comments (72)

- **庄周梦韭 · 2025-05-14T02:18:06.000Z**: You can try using Cursor to quickly go through it~
- **city Gambler · 2025-05-12T14:17:17.000Z**: Not sure about the exact taxes, but a car that costs a little over 100,000 RMB in the U.S. sells for over 500,000 RMB here 😁. It's either tariffs, consumption tax, or VAT 👿.
- **peipeiyang · 2025-05-12T13:41:43.000Z**: Can I still hold the stock?
- **赛博摸鱼选手 · 2025-05-12T12:33:52.000Z**: Not bad. Hope this is not the end but the beginning of bilateral negotiations 😁
  - **Dolphin Research** (2025-05-12T12:52:25.000Z): There must be more to come 😀
- **柏莱塔92 · 2025-05-12T12:26:33.000Z**: Was there still 20% in 2018?
- **小散户可怜 · 2025-05-12T11:27:37.000Z · 👍 1**: Trump is a total clown 🤡 The most incompetent and corrupt US president, who completely shattered America's credibility
  - **金融消费者** (2025-05-12T12:02:08.000Z): The US gains benefits, China gets the win, this is a win-win situation
- **金融-消费者 · 2025-05-12T10:27:36.000Z**: Has the shoe dropped yet? Why are there so many positive news released so quickly?
- ***烟火声* · 2025-05-12T10:19:42.000Z**: Does this 90-day period start counting from today?
  - **Dolphin Research** (2025-05-12T10:55:12.000Z): Should be.
  - ***烟火声*** (2025-05-12T10:55:55.000Z): 😂 Just paused less than a month ago
  - ***烟火声*** (2025-05-12T10:56:57.000Z): It was not revenge before, just thought of it
- **Akira-K · 2025-05-12T09:53:29.000Z**: So the US is going to impose a 30% tax on iPhones made in China?
  - **Dolphin Research** (2025-05-12T10:55:00.000Z): Electronic products seem to have had a special exemption before, we still need to check.
  - **Akira-K** (2025-05-12T11:12:05.000Z): Yes, I remember now.
- **nnnnnN · 2025-05-12T09:51:08.000Z**: Is it time to ditch gold?
- **江南第一深情 · 2025-05-12T09:26:03.000Z · 👍 5**: Why does an official account have so many typos, and even the replies are full of typos? Is it so unprofessional?
  - **只买中概** (2025-05-12T09:32:33.000Z): Very down-to-earth, I think it's fine, as long as the typos are understandable.
  - **江南第一深情** (2025-05-12T09:33:47.000Z): Typos are not down-to-earth, and there are typos in the replies. It's unprofessional and careless for an official account.
  - **Dolphin Research** (2025-05-12T09:52:11.000Z): Why not treat us as ordinary people and make friends🤝
- **不碰中概股 · 2025-05-12T09:07:19.000Z · 👍 33**: Trump is a good guy. Just the other day he told people to buy stocks, and for that I really love him. Unlike some people who keep everything hidden until the last minute, waiting for the big players to finish building their positions.
  - **哈皮番薯仔** (2025-05-12T09:11:00.000Z): Exactly exactly, the old man is quite adorable in this regard.
  - **只买中概** (2025-05-12T09:31:40.000Z): So did you buy it? 🌚
  - **U111** (2025-05-12T09:40:48.000Z): Didn't I tell you to buy before last October? We can open an account for you instantly.
- **土豆if · 2025-05-12T08:53:40.000Z**: Is this 20% increase in fentanyl tariffs targeting fentanyl-related products or all products?
  - **Dolphin Research** (2025-05-12T09:03:22.000Z): Using fentanyl as an excuse to impose tariffs on all Chinese goods.
  - **Lon_cX0yyp** (2025-05-12T09:47:50.000Z): So now it's this year's 20+10%? Should we add the previous years' lists?
- **不喜食面 · 2025-05-12T08:51:10.000Z**: Both sides won overwhelmingly
- **分红永动机 · 2025-05-12T08:48:03.000Z · 👍 3**: This is clear
  - **分红永动机** (2025-05-12T08:49:32.000Z): @Dolphin Research Check this out, the wording is so confusing
  - **Solaris11** (2025-05-12T08:55:06.000Z): Not entirely. We previously added some products that were not listed in this table. The 50% vs 10% ratio seems too exaggerated.
  - **Dolphin Research** (2025-05-12T12:25:02.000Z): 👍Nice picture
- **分红永动机 · 2025-05-12T08:47:06.000Z**: This explanation is quite clear
  - **分红永动机** (2025-05-12T08:50:31.000Z): @Dolphin Research A long article makes me dizzy💫
- **Solaris11 · 2025-05-12T08:44:12.000Z · 👍 4**: We also imposed a 10-15% tariff on fentanyl, but not on all goods. It's basically reciprocal.
  - **Dolphin Research** (2025-05-12T08:47:22.000Z): Well, measured response. All things considered, it's not much,
  - **只买中概** (2025-05-12T09:04:23.000Z): So what are the current tariffs imposed by China and the US? Can some influencer calculate it?
  - **Solaris11** (2025-05-12T09:06:47.000Z): Just consider it roughly equivalent. We'll take a slightly smaller hit because our previous countermeasures weren't comprehensive tariffs - they were only applied to certain categories. This year they
- **守拙待股 · 2025-05-12T08:41:22.000Z · 👍 3**: Easy to understand. The analysis is simple and clear
- **陆羽鸿渐 · 2025-05-12T08:40:53.000Z · 👍 18**: It turns out the world is just one big slapdash operation
  - **Dolphin Research** (2025-05-12T09:04:16.000Z): Without the checks and balances from an established group of people, the result is that Trump's true colors are just an idiot.
  - **追风666** (2025-05-12T09:43:38.000Z): Trump's playbook = create problems, solve problems, declare victory (whether it's a victory or not, just declare it anyway)
  - **nnnnnN** (2025-05-12T09:50:07.000Z): This move of spiritual victory really made the old man learn it the hard way.
- **somnusliang · 2025-05-12T08:40:21.000Z · 👍 1**: 90% means 90 days?
  - **Dolphin Research** (2025-05-12T08:46:25.000Z): Wrong code, 90 days ah