Trump admin live updates: Trump signs 90-day extension for trade truce with China
President Trump Signs Executive Order Extending US-China Trade Truce
In a last-minute decision, President Donald Trump has signed an executive order to extend the trade truce between the United States and China for another 90 days. The announcement was made on social media just hours before the deadline was set to go into effect.
“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,” Trump stated in his post.
The new deadline is now set to expire on November 9 at 12:01 a.m. This move comes after speculation about whether the president would choose to extend the trade truce deadline, which was originally scheduled to end at midnight on the same day.
During a press conference earlier on Monday, Trump was asked about his intentions regarding the deadline extension. In response, he simply stated, “We’ll see what happens.”
Prior to the extension of the trade truce, the tariff rate on Chinese imports entering the U.S. stood at a hefty 145%. This extension provides a temporary reprieve for both countries as they continue to negotiate and navigate their complex trade relationship.
The decision to extend the trade truce comes amidst ongoing tensions and uncertainty in global trade markets. Both the United States and China have been engaged in a trade war for several years, with tariffs and trade barriers being imposed on various goods and services.
As the new deadline looms, both countries will need to work towards finding a long-term solution that addresses their trade imbalances and promotes fair and mutually beneficial trade practices. Only time will tell how this extended truce will impact the future of US-China trade relations.
