US President Donald Trump has signed an executive order that will postpone the imposition of high tariffs on Chinese goods for 90 days. This is reported by CNBC, citing sources, according to UNN.
President Trump signed an executive order that will postpone the imposition of high tariffs on Chinese goods for 90 days. The order was signed a few hours before midnight, when Trump's tariff moratorium was set to expire.
It is noted that the postponement is the expected outcome of the latest round of negotiations between American trade negotiators and their Chinese counterparts, which took place in Stockholm at the end of last month.
If the deadline had not been extended, US tariffs on Chinese goods would have returned to April levels, when the tariff war between the world's largest trading powers was at its peak. The parties agreed to suspend most tariffs on each other's goods in May, after negotiators first met in Geneva. This 90-day pause was set to end on Tuesday, before Trump signed the latest executive order to extend it.
Recall
US President Donald Trump stated that Washington is close to making a decision on imposing additional tariffs on Chinese goods due to Beijing's trade with Russia.