President Donald Trump has signed an executive order extending the deadline for higher tariffs on Chinese goods by 90 days, as per a report by a White House official.
Extension Follows Trade Uncertainty
The decision comes just hours after Trump sidestepped a question on whether he would extend the August 12 tariff deadline.
“We’ll see what happens,” Trump said, praising China’s cooperation in ongoing trade talks with the United States.
Tariff History and Escalation
In April, Trump raised U.S. tariffs on Chinese goods to 145%, prompting Beijing to retaliate with 125% duties on U.S. imports. Months of trade tensions saw both nations engage in tit-for-tat measures before reaching an agreement in Geneva to temporarily lower tariffs.
Negotiations and De-Escalation
Following the truce, imports from China faced a 30% U.S. tariff — made up of a 10% base rate and an additional 20% on fentanyl-related goods imposed earlier this year. China matched the de-escalation by reducing duties on U.S. imports to 10%.
Officials met again in London in June, signaling cautious optimism for easing tensions. The tariff truce, initially set to expire August 12, will now remain in place until mid-November.
Impact on Global Trade
The extension is expected to provide breathing room for negotiators, but analysts warn that uncertainty over US-China trade relations could continue to weigh on global markets.