Tariff Truce Extended: Trump Delays China Tariff Hike by 90 Days
President Trump has signed an order to extend the pause on higher U.S. tariffs on Chinese goods for another 90 days. The deadline, which was set for August 12, is now pushed to November 10. This move stops a sharp rise in tariffs that could have hit both sides hard—U.S. duties were set to jump to 145% and China’s to 125%.
“Dealing Quite Nicely,” Says Trump
Trump said China has been “dealing quite nicely” in trade talks, and all other terms of the agreement remain the same. Experts believe this extension could smooth the way for a meeting between Trump and China’s President Xi later this year.
Markets Breathe Easier
The extension is good news for global markets, especially with the holiday shopping season coming. Higher tariffs would have disrupted prices, supply chains, and business plans. For now, this pause gives traders, retailers, and manufacturers some breathing space.
Impact:
* The pause may boost market confidence and lift risk currencies like the Australian Dollar and Chinese Yuan in the short term.
* If talks fail later, fear of renewed tariffs could push traders back to safe-haven assets like the U.S. Dollar.
