The United States and China on Monday extended the tariff truce for another 90 days. These extensions prevent US, China tariffs from snapping higher and come at a time when the US retailers are getting ready to ramp up critical inventories ahead of the end-of-the-year holiday season.
The US President announced on his Truth Social Platform that he signed an executive order suspending the imposition of higher tariffs until 12:01 a.m. EST on November 10, with all other elements of the truce to remain in place.
The truce was the expected outcome from the latest round of talks between the U.S. trade negotiators and their Chinese counterparts, which took place in late July in Stockholm.
Trade analysts see the extension easing path to Trump-Xi meeting, reports Reuters.
Meanwhile, China urged local companies to avoid using Nvidia’s H20 chips, particularly for government-related purposes, reports Bloomberg.
Trump’s on-again, off-again tariffs with little prior notice have made the U.S. trade policy unpredictable for many businesses.
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