Trump signed an executive order to extend the tariff truce on China by another 90 days

US President Trump has extended the suspension of high tariffs on Chinese goods for another 90 days.

A White House official said Monday that Trump has signed an executive order to extend the grace period for tariffs on China, according to reports from Reuters and Bloomberg. The tariff truce between Washington and Beijing was originally set to expire at 0:01 a.m. (12:01 p.m. Singapore time) on Tuesday (August 12).

According to the agreement, China and the United States agreed to suspend the imposition of retaliatory tariffs on each other and ease export restrictions on rare earth magnets and certain technologies.

The White House has not yet responded to a request for comment. Earlier that day, when asked whether he would extend the grace period for China's tariffs, Trump said, "Let's wait and see." They handled it very well.

The text of Trump's executive order has not been released yet. It is currently unclear whether the executive order contains any other modifications to US trade policies.

In accordance with the 90-day agreement reached by the Chinese and US delegations in Geneva, Switzerland on May 12th, the United States agreed to reduce China's tariffs from 145% to 30%, including a 10% base tariff and a 20% tariff imposed on the smuggling of fentanyl. China has reduced tariffs on US products from 125% to 10%.