China Tariff Truce: US President Donald Trump has extended the tariff truce with China by 90 days, giving major relief to US retailers during the Christmas and holiday season. The new order delays higher tariffs until November, preventing additional costs on imported electronics, clothes, and toys during the crucial autumn shopping period.
US-China Trade Avoids Major Tariff Hike
Under the earlier plan, US tariffs were set to rise to 145% and China’s tariffs to 125%, which could have crippled trade. Trump’s order keeps US tariffs at 30% and Chinese tariffs at 10% for now. This move aims to stabilize trade between the two nations ahead of the Christmas shopping rush.
A Fresh Opportunity for US-China Talks
Trump said he has a good relationship with Chinese President Xi Jinping and wants to see if a deal can be reached. Experts believe this extension will help maintain calm between both countries and prepare the way for a possible Trump-Xi meeting in the fall to finalize trade agreements.
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Trade Deal Efforts Already Underway
In May, during talks in Geneva, the US and China announced a 90-day truce. They met again in Stockholm in July, where US negotiators recommended extending the deadline. Trump also urged China to quadruple soybean purchases, though analysts doubt the feasibility of such a deal in the current trade scenario.
Economic Pressure and Shrinking Trade Deficit
According to the US Treasury, high tariffs from both countries had harmed trade. In June, the US trade deficit with China dropped to $9.5 billion, its lowest since 2004. Over the past five months, the deficit has fallen by 70%, bringing hope of easing market pressure and boosting American businesses.
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Focus on Russian Oil Purchases
The US tariffs is also pressuring China to stop buying oil from Russia. Trump has warned of imposing extra tariffs if this continues. For now, the 90-day relief period will give both countries more time for talks, increasing the chances of reaching a long-term trade settlement acceptable to both sides
Conclusion: China Tariff Truce
The 90-day extension of the US-China tariff truce offers temporary relief for businesses and consumers, especially during the critical holiday season. While it prevents a steep tariff hike for now, the coming months will be crucial for negotiators to bridge differences. A successful agreement could stabilize global trade, but failure may reignite tensions at unprecedented levels.
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