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U.S. and China extend tariff truce by 90 days

Reuters · Recent
Reuters
Reuters
Recent

The United States and China extended a tariff truce for another 90 days, staving off triple-digit duties on each other's goods as U.S. retailers get ready to ramp up inventories ahead of the critical end-of-year holiday season.

Breakdown
  • U.S. and China agreed to extend their tariff truce by 90 days, averting higher duties.
  • The extension prevents tariffs from rising to 145% on Chinese goods and 125% on U.S. goods. 13s
  • China also paused new trade restrictions on some U.S. firms. 45s
  • The U.S. trade deficit with China has narrowed significantly over recent months. 1m 35s
  • The U.S. continues to pressure China over its purchases of Russian oil. 1m 54s
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Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.