Trump delays the tariff walk of China for another 90 days

President Trump signed an executive order on Monday that delayed a set of very high tariffs on Chinese products for at least 90 days, extending a high fire in the American-China commercial war, the White House announced.

The president’s order will keep the tariffs at 30%, the level that was set in mid -Maywhen both countries agreed to temporarily retreat a set of Tit rates per eye that exceeded 100%. That agreement would expire on Tuesday, and without an extension, taxes on some Chinese products could have jumped at least 80%, said the United States commercial representative Jamieson Greer.

The order says that the “reciprocal” tariff of the United States on Chinese products will remain at 10% to at least November 10. An additional 20% rate on China is also implemented earlier this year due to fentanyl traffic, which takes the total rate to 30%.

The China Ministry of Commerce said in a statement that it will maintain a 10% tariff on US assets.

“The United States and China have been involved in multiple rounds of productive negotiations to address commercial reciprocity and national security concerns,” said the White House on an information sheet that announces the extension.

The Secretary of Commerce, Howard Lutnick, said last week that China and the United States “probably” accepted an extension of 90 days, since the two countries seek to negotiate a long -term commercial agreement. Trump told the journalists early on Monday that these negotiations were “quite well.” Representatives of both sides met in Stockholm at the end of last month.

Greer said News themezone “Face the Nation with Margaret Brennan” earlier this month that “I don’t think anyone wants to see” high rates in China.

“We are working on some technical issues and we are talking with the president about it,” Greer said. “I think it goes in a positive direction.”

A return to high rates It could have caused American imports of Chinese products to plumme, interrupting trade between the two largest economies in the world. In mid -April, when tariffs on Chinese imports were still 145%, the Trump administration planned For possible interruptions of the supply chain.

China was the third largest commercial partner of the United States last year, not counting the European Union. The United States imported $ 438.9 billion in Chinese and China products imported $ 143.5 billion in American goods, according to data from the United States government.

Trump hit China for the first time with 34% of tariffs in early April, one of the dozens of countries to face strong “reciprocal” levies. The president argues that tariffs could boost American manufacturers and correct what he sees as unfair commercial practices, but many economists warn that Mr. Trump’s commercial strategy could lead to higher consumption prices and slower economic growth.

The president quickly stopped his April tariffs for most countries, and reinstalledoften at substantially lower levels, last week. But China’s levies remained in place for more than a month and obtained Beijing reprisals, which finally brought US tariffs to Chinese products to 145% and Chinese tariffs on US goods at 125%.

The two countries agreed to relieve rates for at least 90 days in May, buying more time for Mr. Trump’s teams and Chinese leader Xi Jinping to negotiate a commercial agreement. Since then, the United States has gained 30% of tariffs and China has charged 10%.

The conversations have occasionally proven to be contentious. Earl this year, the two countries fought Regarding Beijing’s restrictions on rare earth exports, Washington’s restrictions to advanced semiconductors and Trump administration repression against China’s international students. Mr. Trump Chinese accused to violate the terms of the Hosta of May, although both countries reached an agreement to relieve some of those tensions in June. And on Sunday, Trump pushed China to quadruple their imports from American soybeans.

• Economy
• Duty
• Trump administration
• Porcelain