Washington – The US and China have agreed to extend their trade truce until November 10, just hours before new tariffs were set to take effect today. In a joint statement, both countries said they will pause the planned tariff increases for another 90 days.
The US will delay raising tariffs to 145 percent on Chinese goods, while China will hold off on 125 percent tariffs on US goods. Instead, current tariffs will remain 30 percent on Chinese imports to the US and 10 percent on American exports to China.
US President Donald Trump signed an executive order yesterday to extend the truce, giving both sides more time to continue negotiations on trade imbalances, unfair practices, market access, and national security concerns. The US highlighted a 300 billion US dollar trade deficit with China in 2024, the largest with any country. Talks also cover issues like China’s purchase of Russian oil, access to rare earth minerals, and US restrictions on tech exports. (ATP)
