President Donald Trump signed an executive order on Monday extending a deadline for higher tariffs on Chinese imports until November.
Officials from the U.S. and China first ended tariff tit-for-tat in May after duty rates on both sides reached triple digits. The latest deadline was set to expire on Tuesday, August 12. However, the new executive order sets the revised deadline for higher duties on November 10.
“The U.S. continues to have discussions with China to address the lack of trade reciprocity in our economic relationship and our resulting national and economic security concerns,” the order reads. “Through these discussions, China continues to take significant steps toward remedying non-reciprocal trade arrangements and addressing the concerns of the United States.”
U.S. Treasury Secretary Scott Bessent said the two sides are expected to meet later this year to continue discussions.
Over the weekend, Trump posted on Truth Social that he’s hopeful China will “quadruple” its U.S. soybean purchases.
Source: NAFB News Service
