In a move that has global implications, President Trump has extended the temporary truce in the U.S.-China trade war for another 90 days. This decision comes as a relief to many, as it prevents tariffs on Chinese goods from escalating to at least 80%, a move that could have had severe economic repercussions.
The extension of the tariff truce was announced by President Trump through an executive order, signaling a continued effort by both the U.S. and China to reach a permanent agreement. The truce, initially struck in June during talks between officials from both countries, has kept U.S. tariffs on most Chinese goods at 55% in exchange for a commitment to ongoing negotiations.
This development has been met with a mix of reactions, with some viewing it as a positive step towards de-escalating tensions between the world’s two largest economies. Others, however, remain cautious, noting that the underlying issues in the trade dispute have yet to be fully resolved.
The decision to extend the tariff truce by 90 days has been widely covered by reputable news sources. CNBC reports on the extension, highlighting the potential impact on global markets. The New York Times emphasizes the significance of the deadline extension in preventing a surge in tariffs. The Guardian provides insight into the looming economic tensions that could have arisen without this extension.
While the extension of the tariff truce is a temporary measure, it reflects the ongoing efforts to find a lasting solution to the trade dispute between the U.S. and China. As negotiations continue, the global economy will be closely watching for further developments that could shape the future of international trade relations.
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References:
– CNBC: https://www.cnbc.com/
– The New York Times: https://www.nytimes.com/
– The Guardian: https://www.theguardian.com/
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