The U.S. and China have extended their trade truce for another 90 days, narrowly avoiding another round of tariffs set to increase on each other’s goods.
On Monday, August 11, U.S. President Donald Trump signed an executive order to keep the pause in place until November 10—with Beijing also announcing an extension. The U.S. will maintain its 30% levy on Chinese imports, and China will maintain its 10% tariff on U.S. goods.
This latest trade extension will allow additional time for negotiations—an increase in duties could have risked further trade tension and raised more uncertainty and concern regarding the impact of tariffs on the economy.
SOURCE: Reuters
