US to extend China tariff pause another 90 days
Summary
The United States has extended a pause on tariffs on Chinese goods for another 90 days. This extension was signed by President Trump just before the previous deadline expired. The decision aims to continue ongoing trade negotiations between the two countries.Key Facts
- President Trump signed an order to extend the tariff pause with China for 90 more days.
- The previous pause was set to end at midnight in Beijing.
- If the pause had expired, tariffs on Chinese goods would have returned to higher levels.
- The US and China have been imposing tariffs on each other's goods, causing trade tensions.
- Both countries agreed to temporarily lower tariffs during negotiations in May.
- Trump mentioned having a good relationship with China's President Xi Jinping.
- A Chinese Foreign Ministry spokesman expressed hope for positive negotiation outcomes.
- Current US tariffs on Chinese goods are at 30%, and China's tariffs on US goods are at 10%.
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