The United States and China extend the deadline for commercial truce for an additional 90 days
The United States and China have extended its commercial truce until November 10, just a few hours before the leap of the prices took effect.
In a joint statement, the two largest economies in the world said that three -digit prices on the goods, which announced earlier this year, will be suspended for 90 additional days.
The talks ended last month with the two parties calling for “constructive” discussions. The best Chinese negotiator said at the time that the two countries were pushing to preserve the truce, while US officials said they were waiting for the final disconnection of US President Donald Trump.
Trump signed an executive decree on Monday to extend the price price.
This means that Washington will further delay the taxation of 145% prices on Chinese products and that Beijing will continue its break on 125% of tasks on American expeditions.
Under the agreement, the United States will hold its prices on Chinese imports at 30%, while China will keep a 10% price on American products.
The extension of the truce will give more time for negotiations on “corrected imbalances” and “unfair business practices”, said the White House.
He cited a trade deficit of nearly $ 300 billion (223 billion pounds Sterling) with China in 2024 – the largest among its business partners.
Translections will also aim to increase access to American exporters to China and to solve national and economic security problems, according to the press release.
A spokesperson for the Chinese embassy in Washington said: “Winning-win cooperation between China and the United States is the right way; abolition and confinement will not take anywhere.”
In the press release, China also called on the United States to raise its “unreasonable” commercial restrictions, to work together to benefit companies on both sides and to maintain the stability of global semiconductor production.
A higher task yield would have risked new commercial disorders and uncertainty in concerns about the effect of prices and economics prices.
Trade tensions between the United States and China reached fever in April after Trump has unveiled new prices on goods from countries around the world, China facing some of the highest samples.
Beijing retaliated with clean prices, causing a struggle for tit-for-tat which saw the prices rise to three figures and almost closed the trade between the two countries.
The two parties had agreed to cancel some of these measures in May.
This agreement left Chinese goods entering the United States faced at an additional 30% rate compared to the start of the year, with American products faced with a new 10% rate in China.
The two parties remain in discussions on issues including access to the rare land of China, its Russian oil purchases and the American limits on sales of advanced technologies, including china fleas.
Trump recently softened some of these export restrictions, allowing businesses such as AMD and NVIDIA to resume sales of certain fleas in China in exchange for 15% of their revenues with the US government.
The United States also put pressure on the Tiktok spin-off of its Chinese owner bytedance, a decision that opposed Beijing.
Earlier in journalists on Monday on Monday, Trump did not agree to extend the truce, but said that the transactions were “good”. One day earlier, he called Beijing to increase his American soybean purchases.
Even with the truce, the trade flows between countries were affected this year, the US government figures showing US imports of Chinese products in June were reduced to half compared to June 2024.
In the first six months of the year, the United States imported goods of $ 165 billion (130 billion pounds Sterling) from China, down approximately 15% compared to the same era last year. American exports to China fell by approximately 20% in annual sliding for the same period.
