Trump extends China tariff deadline by another 90 days
The order was signed just before midnight, Sunday, hours before the current tariff pause was set to expire. The extension to Nov. 9 follows progress last month in Stockholm, Sweden, during talks between U.S. and Chinese trade negotiators.
"We hope that the U.S. will work with China to follow the important consensus reached during the phone call between the two heads of state ... and strive for positive outcomes on the basis of equality, respect and mutual benefit," foreign ministry spokesman, Lin Jian, said in a statement.
Last week, U.S. Treasury Secretary Scott Bessent said he, too, was optimistic about "the makings" of a trade deal with China.
China is one of the United State's largest trade partners. In June, Trump announced a trade agreement with China over rare earth minerals. Under the deal, China would export rare earth minerals to the United States with both countries reducing their tariffs for 90 days. Rare earth minerals fuel energy sources for mobile devices and electric vehicles.
As Trump signed the executive order Sunday night, he called on China to quadruple its purchases of American soybeans to reduce the United States' trade deficit with China.
"China is worried about its shortage of soybeans. Our great farmers produce the most robust soybeans. I hope China will quickly quadruple its soybean orders," Trump wrote in a post on X.
"This is a way of substantially reducing China's Trade Deficit with the United States. Rapid service will be provided. Thank you President Xi."
Despite ongoing trade threats, China's economy posted second quarter Gross Domestic Product growth at 5.2% last month, according to the National Bureau of Statistics, as exporters took advantage of the Trump administration's pauses in reciprocal tariffs, which were announced April 2.
Since the announcement, Trump hit China with tariffs as high as 145%, while China threatened retaliatory tariffs of 125%. During the initial 90-day truce, the United States reduced its China tariffs to 30%, with China dropping its tariffs on U.S. goods to 10%.
"We'll see what happens," Trump told reporters at the White House. "They've been dealing quite nicely. The relationship is very good with President Xi and myself."
Over the past few weeks, the Trump administration announced trade deals -- to lower tariffs in exchange for larger U.S. investment -- with Japan, South Korea and the European Union.
Copyright 2025 UPI News Corporation. All Rights Reserved.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
13 minutes ago
- Yahoo
More Americans are driving to Canada than Canadians to the U.S., report finds
More American travellers drove to Canada in July than Canadians did to the United States, according to a new report by Statistics Canada. This is the first time such a reversal has taken place since before the COVID-19 pandemic. The dramatic decline of Canadians travelling to the U.S. was sparked last year, with U.S. President Donald Trump's heated rhetoric about Canada becoming the 51st state that led to an ongoing trade war and lingering tension between the two countries. The data for last month shows that 1.8 million American residents drove to Canada, compared to the 1.7 million Canadian residents who made a return trip from the U.S. by car. Canadian road trips to U.S. plunge for seventh month as boycott continues Both countries saw a decline at land border crossings last month. For Americans driving to Canada, there was a slight dip of 7.4 per cent compared to the same month last year. It was also the sixth consecutive month of year-over-year declines. However, the decline was much steeper for Canadians returning from the U.S. this July compared to the previous year, at nearly 37 per cent. Last month marked the seventh consecutive month of year-over-year declines, StatCan said. 'In 2024, Canadian-resident trips to the United States totalled 39 million, representing 75 per cent of all Canadian-resident travel abroad,' according to another StatCan report published earlier this summer about travel to the U.S. 'However, recent data on foreign travel suggest that Canadians' travel sentiment toward their southern neighbour has been shifting in early 2025.' Although the data reflects a 'notable change in travel patterns,' StatCan said it is 'unclear whether the change is temporary or part of a more permanent shift.' As for air travel, the number of non-resident visitors who flew to Canada increased in July. There were 1.4 million of them — up by just over 3 per cent since the same time last year. While the bump was largely due to residents who came from overseas (up 5.6 per cent this year), American travellers were also up by just under 1 per cent. The highest number of U.S.-resident arrivals by air was 31,600 Americans on July 3, before the Independence Day long weekend in the U.S. Meanwhile, the number of Canadians returning home from abroad by air last month was down by 5.3 per cent compared to the previous year. In particular, Canadians flying back from the U.S. also decreased by nearly 26 per cent since the same time last year. Canadian permanent residents will now have to pay 'visa integrity fee' to enter U.S. Here's what it is An American sent to Canada was shocked by how furious Canadians are at the U.S. Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our daily newsletter, Posted, here.
The Hill
14 minutes ago
- The Hill
Tariff rebate checks in 2025? What we know about current legislation
(WJW) – It's not a pandemic stimulus check, but Congress is currently weighing the possibility of sending the American people more money. As part of the American Worker Rebate Act, introduced by Republican Sen. Josh Hawley of Missouri in July, people would receive hundreds of dollars in tariff rebate checks, which work to counteract the financial burden imposed on families by the Trump administration's tariffs. As the bill stands now, a household would get $600 for every child and adult – meaning a family of four would receive $2,400. Check amounts go down for those U.S. residents who are making more than $150,000 as a family or $75,000 individually. The bill has not been passed by the Senate or the House, and it must overcome multiple obstacles before being brought to President Trump's desk to sign. However, last month, Trump did say he was 'thinking about' approving a rebate. If the revenue from the latest tariff rollout exceeds projections, the bill leaves room for a larger rebate to be sent out to the American people. So far, there has been no word from Congress or the IRS on the possibility of a fourth stimulus check, like those issued during the height of the COVID-19 pandemic. A rebate is a refund of something already paid for, while a stimulus is simply money given to pump up the economy. The U.S. Senate is currently on break for the summer and will be back in action on Sept. 2.
The Hill
14 minutes ago
- The Hill
Watch live: Newsom outlines plan to combat Trump, GOP redistricting
California Gov. Gavin Newsom will speak to reporters Thursday afternoon as the mid-decade redistricting battle heats up across the U.S. ahead of the 2026 midterms, a day after announcing the ' Liberation Day ' event. His remarks come as Democrats push back against GOP 'gerrymandering' efforts in Texas that could give Republicans five additional seats in next year's election. Newsom sent a letter to President Trump and red state leaders earlier this week urging them to end the redistricting war. After Trump missed the deadline to respond, the governor said the Golden State would also be redrawing its House maps to counteract attempts to 'rig' the lines in the Lone Star State. The event is scheduled to begin at 2:30 p.m. EDT. Watch the live video above.
