Trump Extends Deadline for Imposing Tariffs on China by 90 Days

SadaNews Economy - U.S. President Donald Trump on Monday extended the deadline for imposing high tariffs on Chinese goods for another 90 days, according to a report by CNBC citing a White House official.

These tariffs were set to resume on Tuesday. However, Trump signed an executive order hours before that extending the deadline until mid-November, according to the official.

This postponement was a predictable outcome of the recent round of talks between U.S. trade negotiators and their Chinese counterparts, which took place in Stockholm in late July.

Had the deadline not been extended, U.S. tariffs on China would have reverted to previous levels in April, when the tariff war between the world's two largest trading nations was at its peak.

At that time, Trump raised the overall tariffs on Chinese imports to 145%, and China responded by imposing tariffs of 125% on U.S. goods.

However, both sides agreed to suspend most of those tariffs in May, after negotiators met for the first time in Geneva. The U.S. reduced its tariffs to 30%, and China lowered its tariffs to 10%.

Monday's extension is the latest example of how Trump's sporadic tariffs can change without warning, a dynamic that has made U.S. trade policy unpredictable for many businesses.

Trump has previously announced hefty tariffs on specific countries or sectors, only to reduce, amend, or temporarily halt them days or weeks later.

The "reciprocal tariffs" that were implemented in early April were quickly suspended and then postponed several times before being modified and put into effect last week.

On Sunday, Trump stated that he wants China to "quickly quadruple" its orders of U.S. soybeans.

Trump wrote in a post on Truth Social: "This is also a way to significantly reduce the Chinese trade deficit with the United States."

Soybean prices in Chicago rose on Monday. It was not immediately clear whether China had agreed to increase its soybean purchases in response to Trump's post.