Trump Xi Extend US China Tariff Truce to November
US, China Extend Tariff Truce Until November
WASHINGTON / BEIJING — The United States and China have agreed to extend their tariff truce until November 10, delaying steep increases in trade duties that were set to take effect this week.
US President Donald Trump announced on his Truth Social platform that he had signed an executive order postponing higher tariffs until 12:01 a.m. EST (0501 GMT) on November 10. China’s Commerce Ministry issued a similar order early Tuesday, also suspending planned tariff hikes and delaying for 90 days the addition of targeted US companies to its trade and investment restriction lists.
In his executive order, Trump said the US is continuing talks with China to address “the lack of trade reciprocity” and “national and economic security concerns.” He noted that Beijing has taken “significant steps” toward addressing Washington’s complaints.
The truce was originally set to expire at midnight on Tuesday. The extension provides breathing room for the seasonal surge of imports ahead of the Christmas shopping season, including electronics, clothing, and toys — all at lower tariff rates.
Without the extension, US tariffs on Chinese goods would have jumped to 145%, while Chinese tariffs on US products were set to reach 125% — levels that experts say could have amounted to a near trade embargo. For now, the US will maintain a 30% tariff on Chinese imports, while China will keep its duties on American goods at 10%.
“We’ll see what happens,” Trump told reporters Monday, stressing his “good relationship” with Chinese President Xi Jinping. Beijing described the extension as “a measure to further implement the important consensus” reached between the two leaders during a June 5 call, saying it would help stabilize the global economy.
Last week, Trump told CNBC that Washington and Beijing were “very close” to a trade agreement and that he would meet Xi before year-end if a deal is finalized.
“It’s positive news,” said Wendy Cutler, a former senior US trade official and now vice president at the Asia Society Policy Institute. “It shows both sides are trying to see if they can reach a deal that could pave the way for a Xi-Trump meeting this fall.”
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