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US President Trump on Monday extended the trade truce with China for another 90 days, delaying showdown between world’s two biggest economies.
He said on a Truth Social post, I have just signed an Executive Order that will extend the Tariff Suspension on China for another 90 days. All other elements of the Agreement will remain the same. Thank you for your attention to this matter!
The previous deadline was set to expire at 12.01 am on Tuesday. Had that happened the US could have ratcheted up taxes on Chinese imports from an already high 30 per cent, and Beijing could have responded by raising retaliatory levies on US exports to China.