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
Supreme Court backs gun rights for marijuana users in 9-0 decision
Iran deal omits terror proxies, ballistic missiles, human rights
‘No kings’ at $830 million Obama Center opening
Alleged UFC White House ringleader was in US illegally
‘Policy blunder’ or ‘pathway to peace’: Republicans divided over Iran deal
Second produced water treatment pilot facility online in Permian Basin
Bill provides access to customized gene therapies, medicines
Illinois Quick Hits: State unemployment rate remains more than 5%
Arthur hammers Louisiana; flood threat persists along Gulf Coast
Report: More than 1M Minnesotans could face Social Security cuts by 2032
Democrats like Schumer, back Platner’s scandal-riddled Senate bid
Chicago discards proposed ban on unregulated ‘sweepstakes machines’