US, China extend tariff truce for 90 days
Summary
The US and China have extended their tariff suspension for another 90 days to November 10, continuing their trade truce and ongoing negotiations amid persistent trade disputes.
Key Points
- The US and China have agreed to extend the suspension of higher tariffs on each other's imports for 90 days until November 10.
- US President Donald Trump signed an executive order implementing the extension while China reciprocated by maintaining a 10-percent duty and halting further increases.
- The tariff truce follows escalating tariffs earlier in the year, with rates negotiated down to 30 percent for the US and 10 percent for China during the truce.
- Both countries are engaging in ongoing negotiations to address trade deficits and seek a potential trade deal, with speculation about a possible Trump-Xi summit in the fall.
