US President Donald Trump signed an order on Monday to delay the reimposition of higher tariffs on Chinese goods, just hours before the trade truce between Washington and Beijing was set to expire, according to the Wall Street Journal and CNBC, citing administration officials.
The extension will last for another 90 days, pushing the deadline to early November. The White House has not commented on the matter.
Earlier this year, the US and China imposed escalating tariffs on each other’s products, reaching triple-digit rates that disrupted trade. In May, both sides agreed to temporarily lower the tariffs for 90 days.
Asked about the deadline earlier on Monday, Trump said: “We’ll see what happens. They’ve been dealing quite nicely. The relationship is very good with President Xi (Jinping) and myself.”
Trump also touted the tariff revenue collected since his return to the White House, adding: “We’ve been dealing very nicely with China.”
Chinese foreign ministry spokesman Lin Jian said in a statement: “We hope the US will work with China to follow the important consensus reached during the phone call between the two heads of state.” He added that Beijing hopes Washington will “strive for positive outcomes on the basis of equality, respect and mutual benefit.”
The full text of Trump’s latest order has yet to be released. The Wall Street Journal reported that the 90-day extension means the truce will expire in early November.
