U.S. Extends Trade Truce with China: 90-Day Deadline Looms

The United States has extended its truce with China on tariffs, setting a new deadline of November 10th to avoid automatic tariff increases. This extension, announced by President Biden on August 11th, maintains the current 30% surcharge on Chinese imports and 10% on American exports. Both sides agreed to maintain the existing negotiation mechanism established since spring to continue discussions aimed at reaching a mutual understanding before the new deadline.