Trump Extends China Tariff Deadline 90 Days for Negotiations

President Donald Trump has signed an executive order delaying the return of steep tariffs on Chinese goods by 90 days, extending a truce initially agreed upon in May to deescalate trade tensions between the U.S. and China. The tariffs, which had been temporarily reduced to 30% from their peak triple-digit levels, will now remain at these lower rates until mid-November, providing more time for both countries to negotiate a bilateral agreement. Trump emphasized the positive relationship with Chinese President Xi Jinping and highlighted the tariff revenue collected since his return to office. The extension follows a shaky period of negotiations with accusations of pact violations, but both sides expressed hope for progress based on equality and mutual benefit. The tariff delay also briefly impacted financial markets, with Bitcoin prices surging before cooling off, though future market moves are expected to hinge more on upcoming U.S. inflation data than trade developments. This move reflects ongoing efforts by the Trump administration to manage trade relations with China while balancing economic and political considerations.