US President Donald Trump has said the US is close to extending a ceasefire in the US-China trade war beyond an Aug. 12 deadline, teeing up the possibility of a meeting in the fall with Chinese President Xi Jinping. The trade truce reached in May and built upon in follow-up meetings between US and Chinese negotiators has seen the world’s two largest economies reduce sky-high, tit-for-tat tariffs and the easing of export restrictions on rare earth magnets and certain technologies. A failure to extend the truce could see tariffs shoot back up.
Has Trump Met His Match in China?
Since returning to office, the US president has erected the highest tariff wall since the 1930s without meaningful international pushback, except from Beijing.
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