- US and China agreed to a 90-day tariff suspension starting 11 August 2025
- Without the extension, US tariffs on Chinese goods would have increased to 145% and Chinese tariffs on US goods to 125%
- President Trump signed an executive order to extend the tariff truce until 10 November 2025
- China’s Commerce Ministry also postponed additional tariffs and trade restrictions on US firms
- The extension helps US retailers prepare for the holiday season
- Current tariffs remain at 30% for Chinese imports and 10% for US imports
- Trump mentioned ongoing discussions with China to address trade reciprocity and security concerns
- A potential trade agreement is close, with plans for Trump to meet Chinese President Xi Jinping by the end of the year if a deal is finalised
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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