US President Donald Trump has announced a 90-day extension to the suspension of increased tariffs on Chinese goods, pushing the deadline to November 10. The decision comes as part of ongoing negotiations between Washington and Beijing to ease trade tensions.
The US and China had earlier imposed steep tariffs on each other’s goods, with rates climbing to triple digits earlier this year. A temporary truce in May saw both sides reduce duties significantly, with the US lowering tariffs on Chinese goods from 145% to 30%, and China cutting its rates from 125% to 10%.
According to the White House, China has taken “significant steps” toward addressing US concerns over trade imbalances and lack of reciprocity. Talks have continued through multiple rounds in Geneva, London, and Stockholm, leading to this latest extension of the tariff freeze.
The pause gives negotiators more time to work toward a long-term resolution while preventing a fresh escalation in the trade war.
Picture Credit: www.heute.at
