Trump extends China tariff deadline for another 90 days

2 days ago

Washington, DC [US], August 12 (ANI): United States President Donald Trump on Monday (local time) signed an executive order extending the China tariff deadline for another 90 days, Al Jazeera reported.The decision came just hours before the midnight deadline in Beijing, when the previous 90-day pause was set to expire, CNBC reported on Monday, citing a White House official, quoted by Al Jazeera.Earlier on Monday, Trump said he has been 'dealing very nicely with China" as Beijing said it was seeking positive outcomes.The US and China have a history of escalating trade tensions, with tariffs on each other's products reaching prohibitive levels. In April, the US imposed a staggering 145 per cent tariff on Chinese goods, while China retaliated with 125 per cent tariffs on US products.However, in May, both countries agreed to temporarily lower tariffs during a meeting in Geneva, Switzerland. The US reduced its tariffs from 145 per cent to 30 per cent, and China cut its tariffs from 125 per cent to 10 per cent. But the pause comes as negotiations still loom. Asked about the deadline on Monday, Trump said: 'We'll see what happens. They've been dealing quite nicely. The relationship is very good with [China's] President Xi [Jinping] and myself."'We hope that the US will work with China to follow the important consensus reached during the phone call between the two heads of state," said Chinese Foreign Ministry spokesman Lin Jian in a statement.He added that Beijing also hopes Washington will 'strive for positive outcomes on the basis of equality, respect and mutual benefit."In June, key economic officials convened in London as disagreements emerged and US officials accused their counterparts of violating the pact. Policymakers again met in Stockholm last month, according to Al Jazeera.Even as both countries appeared to be seeking to push back the reinstatement of duties, US trade envoy Jamieson Greer said last month that Trump will have the 'final call" on any such extension. (ANI)

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Time of India

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Economic Times

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