US and China Extend 90-Day Trade War Truce
The US and China have agreed to extend their 90-day truce in the trade war over tariff increases, as reported by international media.
Kokcha News Agency: International media reports indicate that the US and China have decided to extend their 90-day truce in the trade war over tariff increases. US President Donald Trump announced on the social media platform “Truth Social” that he has issued an executive order suspending the increase in tariffs on Chinese imports until November 10.
China’s Ministry of Commerce also stated that it has halted additional tariffs on US goods and investment restrictions on American companies for a period of 90 days. In his executive order, Trump emphasized that the US will continue negotiations with China to resolve trade disputes and security issues.
This decision prevents tariffs on Chinese goods from rising to 145% and will help ensure that US market imports needed for the Christmas season are available at more affordable prices.
The US and China entered a trade war after Trump announced new tariffs, which raised tariffs to 145%. Following negotiations, both countries agreed to reduce tariffs to 35%. The previous agreement was set to expire this morning, but with the extension of the truce, the two nations continue their efforts to ease trade tensions.
