Delaying a showdown between the world’s two largest economies, President Donald Trump on Monday extended a trade truce with China for another 90 days, according to the Associated Press.
The president said on his Truth Social platform that he signed an executive order for the extension, and “all other elements of the agreement will remain the same.”
The previous deadline’s expiration on Tuesday would have further driven up U.S. taxes on Chinese imports from an already high 30%, potentially prompting retaliatory tariffs from Beijing.
The pause allows additional time for the countries to work out differences and could clear the way for a summit between Trump and Chinese President Xi Jinping later this year.
Related story: 90-day pause on Chinese tariffs expires tomorrow
