Trump delays China tariffs by 90 days
The deadline to enact further reciprocal tariffs against China will be extended by 90 days, President Donald Trump announced Monday night.
“[China] continues to take significant steps toward remedying non-reciprocal trade arrangements and addressing the concerns of the United States relating to economic and national security matters,” Trump explained in an executive order.
The deadline was set to expire on Aug. 12. The new deadline is set for after midnight on Nov. 10.
While negotiations with China are worked out, a 10% reciprocal tariff rate will remain in effect until Nov. 10, according to a fact sheet provided by the White House.
“President Trump is ensuring economic cooperation between two of the largest economies in order to protect American interests, stop unfair trade practices, and strengthen America’s domestic manufacturing base,” the fact sheet read.
In April, the U.S. imposed 145% tariffs against Chinese imports and China retaliated with 125% tariffs on U.S. goods.
The countries backed off these tariffs after meeting in May. The U.S. went down to 30% tariffs while China went down to 10%.
The fact sheet said the U.S. goods trade deficit with China was $295.4 billion in 2024. The White House said this number is “already decreasing substantially.”
Latest News Stories
Nearly 100,000 Illinois Uber, Lyft drivers may soon be able to unionize
Michigan lawmakers spar over Rx Kids program amid oversight concerns
UPDATED: Waters, other incumbents ahead in LA congressional races
GOP rep: New budget shows ‘addiction’ to taxes
Retirees face $5,500 average cut to annual Social Security benefits in 2032
Illinois Quick Hits: Comptroller Mendoza announces run for Chicago mayor
Georgia doctors face scrutiny as they cozy up to injury lawyers
Wiener, Gallagher, Gray lead in congressional races
Desmond, Wilpert ahead in District 48 race to succeed Issa
Candidates advance in redrawn congressional districts
Illinois slaps limits on non-lawyer investor power in law firms
Bill loosens in-state tuition requirements