US and China extend trade truce deadline for another 90 days
Until November 10, the United States and China expanded the trade ceasefire a few hours before a jump in the tariffs entered into force.
In a joint statement, the world’s two largest economies, earlier tariffs on each other’s property, announced earlier this year, will be suspended for more than 90 days.
Last month, the talks ended with both sides calling the discussions “constructive”. China’s best negotiator, then the two countries will put pressure on the protection of the ceasefire, US officials said they were waiting for the last session of US President Donald Trump.
Trump signed on Monday an executive order To extend the tariff ceasefire.
This means that Washington will delay 145% of tariffs to Chinese goods and will continue to pause Beijing on US shipments 125%.
In accordance with the agreement, the US will keep its tariffs in China by 30%, while China will give 10% tariff on American goods.
The White House said that the ceasefire extension would give more time for negotiations about “trade imbalances” and “unfair trade practices”.
In 2024, China showed a trade deficit of approximately $ 300 billion – the largest among the trade partner.
Negotiations will also aim to increase US exporters’ access to China and to address national security and economic issues.
The return of higher tasks would be faced with the risk of more trade and uncertainty. Concerns about the impact of tariffs on prices and economy.
Trade tensions between the US and China reached the fire in April after Trump swept new tariffs on goods from countries around the world and faced some of China’s highest taxes.
Beijing made retaliation for his tariffs, seeing the tariffs rising to three steps and almost closed the trade between the two countries.
The two sides agreed to put aside some of these measures in May.
This agreement was faced with an additional 30% tariff compared to the beginning of the year of Chinese goods, and US goods faced a new 10% tariff in China.
The two sides prevent access to China’s rare worlds, Russian oil purchases, and advanced technology sales, including China in China.
Trump recently relieved some of these export restrictions and allowed 15% of companies such as AMD and Nvidia to the government to continue their sales to companies in China in exchange for sharing with the government.
The United States also forces Tiktok to leave the Chinese owner, a move against Beijing.
Trump did not commit to the extension of the ceasefire, but the relationships were going “beautiful” in a statement given to journalists on Monday. The day before, Beijing called on the US soybeans to increase the purchases of soybeans.
Even with a ceasefire, trade flows between countries were shot this year. US government figures The US fell almost half in June 2024, which shows the import of Chinese goods in June.
In the first six months of the year, the United States fell approximately 15% until the same time last year and imported $ 165 billion (£ 130 billion) from China. Export to American China is 20% annually for the same period.
