Trump Extends China Tariff Deadline 90 Days Amid Trade Talks

President Donald Trump signed an executive order extending the pause on tariffs on Chinese goods for an additional 90 days, delaying the scheduled hike that was to take effect on August 12. This extension follows ongoing trade negotiations between the U.S. and China, including multiple high-level meetings in Geneva and Stockholm, aimed at reaching a deal to ease the tariff tensions. Earlier in the year, tariffs had escalated dramatically, with U.S. rates reaching up to 145% and China retaliating with tariffs as high as 125%, but both countries agreed in May to reduce these rates to 30% and 10%, respectively, during the truce. Trump praised China's cooperation during the talks and highlighted progress, although no final agreement has yet been reached. Treasury Secretary Scott Bessent expressed optimism about a potential deal, while Trump also called on China to increase purchases of American soybeans to help reduce the trade deficit. The administration has indicated the possibility of imposing additional tariffs depending on the outcome of ongoing negotiations, reflecting continued pressure on China amid complex trade dynamics.