The USA-China Trade Truce Extended by 90 Days

On Monday evening, Donald Trump announced via his social media platform Truth that he has signed a decree suspending the implementation of tariffs on products from China until November 10 at 12:01 PM (05:01 GMT). This decision, according to American media, marks the expected outcome of the latest round of talks between U.S. trade negotiators and their Chinese counterparts. Earlier this year, Washington and Beijing engaged in a trade confrontation characterized by exorbitant tariffs, some reaching triple digits. In May, they reached a 90-day truce in Geneva, Switzerland. This agreement temporarily set the U.S. surcharge on Chinese products at 30%, while China's tariffs on American goods remain at 10%. Subsequent rounds of negotiations involving senior officials from both sides took place in London and Stockholm to prevent further escalation and maintain the truce. Earlier in the day, the White House occupant stated that negotiations with China were going "rather well" and that he had "excellent relations" with Chinese President Xi Jinping. Meanwhile, Beijing expressed its desire for a "positive" outcome in the trade negotiations with Washington.