In a last-minute decision, US President Donald Trump signed an executive order on Monday to extend a trade truce with China, delaying the reimposition of higher tariffs on Chinese goods for an additional 90 days. The move comes just hours before the existing tariff suspension was set to expire, offering a temporary reprieve in the ongoing trade tensions between Washington and Beijing.
The US and China have been locked in a trade dispute marked by escalating tariffs, with rates reaching triple digits earlier this year, severely disrupting bilateral trade. In May, both nations agreed to a temporary de-escalation, lowering tariffs for a 90-day period. With that deadline looming, Trump\u2019s latest order extends the truce until early November, according to sources familiar with the matter. The White House has yet to release the full text of the order or respond to inquiries.
Speaking on Monday, Trump hinted at the extension, stating, \u201cWe\u2019ll see what happens. They\u2019ve been dealing quite nicely. The relationship is very good with President Xi [Jinping] and myself.\u201d He also highlighted the significant tariff revenue collected since his return to the presidency, emphasizing the benefits of his trade policies. Meanwhile, Chinese Foreign Ministry spokesman Lin Jian urged the US to work toward \u201cpositive outcomes\u201d based on \u201cequality, respect, and mutual benefit,\u201d reflecting Beijing\u2019s cautious optimism.
Despite the May agreement in Geneva, the truce has been fragile. Disagreements surfaced in June during talks in London, with US officials accusing China of violating the pact. Further discussions in Stockholm last month underscored the challenges of maintaining stability. US trade envoy Jamieson Greer noted that Trump would make the \u201cfinal call\u201d on any extension, a decision now evident in the 90-day reprieve.
Under the current terms, US tariffs on Chinese goods remain at 30%, while China\u2019s retaliatory tariffs on US products stand at 10%. Trump has also imposed a 10% \u201creciprocal\u201d tariff on nearly all trading partners since January, targeting what he considers unfair trade practices. Last week, tariffs on major economies like the European Union, Japan, and South Korea rose to 15%, with Syria facing duties as high as 41%. Exclusions apply to specific sectors like steel, aluminum, pharmaceuticals, and semiconductors, as well as gold, which Trump clarified on Monday would not face additional tariffs.
The extension provides temporary relief but leaves the future of US-China trade uncertain. Trump\u2019s recent social media post calling for China to \u201cquickly quadruple its soybean orders\u201d suggests he views increased purchases as a path to balancing trade. As both nations navigate this extended truce, the global trade landscape remains on edge, with the November deadline looming large.<\/p>\n","protected":false},"excerpt":{"rendered":"
In a last-minute decision, US President Donald Trump signed an executive order on Monday to extend a trade truce with China, delaying the reimposition of higher tariffs on Chinese goods for an additional 90 days. The move comes just hours before the existing tariff suspension was set to expire, offering a temporary reprieve in the …<\/p>\n","protected":false},"author":13,"featured_media":32831,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,39,36],"tags":[],"class_list":["post-117631","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-global-stock-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/117631","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=117631"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/117631\/revisions"}],"predecessor-version":[{"id":117638,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/117631\/revisions\/117638"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32831"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=117631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=117631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=117631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}