The United States has once again delayed the implementation of increased tariffs on Chinese goods. President Trump announced via his social media platform, Truth Social, that he had signed a decree 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 reciprocal Chinese tariffs on American exports increase from ten percent to 34 percent. China confirmed the 90-day extension in a joint statement with the United States.
The extension follows a series of “reciprocal” tariffs imposed by President Trump on trade partners globally, resulting in an effective tariff rate for the United States not seen since the Great Depression. A White House statement accompanying the announcement described trade talks with China as “constructive” while President Trump stated, “We have a very good relationship with China”.