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
Arizona attorney general to appeal ‘fake electors’ ruling
Illinois quick hits: Small business grants announced; new Naperville DMV
Clintons ordered to testify on connections to Jeffrey Epstein in December
CBO says foreign companies could pick up some tariff costs
Guidelines issued on how taxpayers can claim deductions on tips, overtime in 2025
GOP attorneys general back rail merger, splitting Republicans on deal
WATCH: Trump admin moving ahead with dismantling the U.S. Dept. of Education
Debate persists over nation’s highest gas prices in California
Consensus for power supply solution still elusive
Digitization of aviation supply chain an opportunity to ascend out of 1950s
Zoning Cases in Crete and Manhattan Townships Postponed to December 16
Will County Commission Approves New Lenox Variances, Overriding Staff’s Denial Recommendation