The imposition of increased tariffs on Chinese goods has been further delayed by the U.S. administration. President Donald Trump announced via his social media platform that he had signed an order extending the suspension of these tariffs for an additional 90 days.
This decision came just hours before a deadline that would have seen tariffs on Chinese imports rise from 30 percent to 54 percent and Chinese tariffs on U.S. exports return to 34 percent from their current level of 10 percent. China confirmed the 90-day extension in a joint statement with the United States.
The extension follows a series of what the administration has termed “reciprocal” tariffs imposed on global trading partners, bringing the effective tariff rate of the United States to levels not seen since the Great Depression. A White House announcement accompanying the extension described trade discussions with China as “constructive” and President Trump stated that relations with China are “very good”.
