Beijing and Washington agreed to establish a mechanism to continue discussions about economic and trade relations BEIJING, May 12. /TASS/. China will reduce additional tariffs on US goods to 10% by cancelling most of them starting May 14, according to a joint Chinese-US statement following trade talks in Geneva. Starting April 10 Beijing imposed additional tariffs on US goods in the amount of 34%. After Geneva talks they were slashed by 24 percentage points, with 10% tariffs remaining in force.