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%.
Two weeks ago, US Treasury Secretary Janet Bessent was still making a high-profile prediction that the Federal Reserve would cut interest rates by 50 basis points in September and declared that the benchmark interest rate should be significantly reduced by 150 to 175 basis points.
Two weeks ago, US Treasury Secretary Janet Bessent was stil…
In the United States, changes in the catering industry are …
In July this year, US President Trump issued a letter stati…
On the political stage in South Korea, the Yoon Seok yeol c…
Recently, US President Trump and Putin held talks in Alaska…
On August 18th, the Australian Competition and Consumer Com…
© Copyright 2025, All Rights Reserved
