Trump Signs Executive Order to Extend U.S.-China 'Tariff Truce' by 90 Days (Comprehensive)

Reports from Foreign Media Outlets Including CNBC

U.S. President Donald Trump has decided to extend the tariff truce measures with China for an additional 90 days.

Reuters Yonhap News

According to foreign media outlets such as CNBC, President Trump signed an executive order on the 11th (local time) to extend the 115-percentage-point tariff reduction on Chinese goods for another 90 days.

In April, the United States and China imposed ultra-high tariffs of over 100% on each other's goods, escalating to a hardline standoff. However, at the first high-level trade talks held in Geneva, Switzerland, in May, both sides agreed to reduce tariffs by 115 percentage points each. The United States agreed to temporarily apply a 30% tariff rate on Chinese goods for 90 days, while China imposed a 10% tariff rate on U.S. goods for the same period. Subsequently, at the second round of talks held in London, United Kingdom, on June 9-10, both countries agreed to ease export controls: the United States on semiconductor technology, and China on rare earth materials.

At the third high-level trade negotiations held in Stockholm, Sweden, on July 28-29, both sides reached a tentative agreement to extend the tariff truce for another 90 days. President Trump had delayed making a final decision but completed the signing process on the day the truce was set to expire.

Speaking to reporters in the White House briefing room on the same day, President Trump said, "We have maintained a very good relationship with China," adding, "They have done quite well, and my relationship with President Xi Jinping of China is also very good." In a post on Truth Social early in the morning, he also stated, "I hope China will quickly quadruple its orders of U.S. soybeans," expressing his expectations for China to expand its imports of U.S. agricultural products.

Prior to President Trump's signing of the executive order, China urged the United States to extend the tariff truce. Lin Jian, spokesperson for China's Ministry of Foreign Affairs, stated, "We hope the United States will implement the important agreements reached during the leaders' phone call, and work with China on the basis of equality, respect, and mutual benefit to achieve positive results."

With this extension of the tariff truce, the United States and China have avoided a scenario in which the trade war would escalate to extremes once again. Both sides are expected to continue negotiations on specific issues, including China's excess manufacturing capacity, U.S. tariffs on fentanyl, and the opening of China's market.

Furthermore, as both sides have agreed to keep potential trade conflicts subdued at least until early November, there is now an atmosphere conducive to holding the first U.S.-China summit of President Trump's second administration around the time of the Asia-Pacific Economic Cooperation (APEC) summit, which is scheduled to take place in Gyeongju at the end of October or early November.

This content was produced with the assistance of AI translation services.