US and China extend tariff truce - Trump postpones measures for 90 days. Parties will resume trade talks
United States President Donald Trump has extended his tariff truce with China for another 90 days. Trump signed an executive order just hours before the latest deal between the world's two largest economies was set to expire, delaying the implementation of sweeping tariffs.
The previous pact was scheduled to expire shortly after midnight Tuesday. The new order will prevent tariffs of up to 145% on Chinese goods entering the United States.
Trump offered a glimmer of optimism that the measures might not go into effect, saying that "China is doing pretty well." He also praised his Chinese counterpart, Xi Jinping, noting that their relationship is "very good."
Last month, Chinese and American officials met in Stockholm for another round of trade talks. After the meetings, they said they expected the tariff truce to be extended.
US Treasury Secretary Scott Bessent said last week that the US had the "foundations" for a deal with China, but negotiations were still needed to perfect the framework and agree on the details.
A Washington-Beijing trade pact could have catastrophic economic consequences for the entire world. The United States has threatened to impose tariffs on Chinese products of up to 245%. China has retaliated with its own tariffs, which it previously set at 125%.
The two nations, which together had a combined GDP of nearly $50 billion in 2024, will continue to engage in talks over the next 90 days.
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