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US President Donald Trump has signed an executive order extending a tariff truce with China for another 90 days, a White House official said on Monday, hours before the deadline for imposing triple-digit US tariffs on Chinese goods was set to expire.
The order came shortly after Trump gave an informal response to reporters, asking Beijing to quadruple its purchases of American soybeans.
The tariff truce between Beijing and Washington was expected to expire on Tuesday.
The order now prevents the imposition of US tariffs of 145 percent on Chinese goods, and the imposition of Chinese tariffs of 125 percent on US goods – figures that could result in a virtual trade embargo.
"We'll see what happens," Trump said at a press conference when asked if he planned to continue the measure.
"They have negotiated pretty well. The relationship is very good between President Xi [Jinping] and me."
Currently, imports from China are subject to 30 percent US tariffs, including the 10 percent base tariff and the 20 percent tariff imposed by Washington in February and March, due to fentanyl.
China has retaliated, lowering the tariff rate to 10 percent on American imports.
The two sides agreed to suspend trade measures after talks in Geneva in May, agreeing to a 90-day pause while negotiations take place.
The parties met again in Sweden at the end of July, but did not announce any agreement.
US Treasury Secretary Scott Bessent said Washington is "optimistic" about the path forward./ REL
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