Report follows two weeks of mixed signals from Washington, after negotiators finished a third round of trade talks in Stockholm, Sweden
US President Donald Trump has signed an executive order extending by 90 days the tariff truce with China, CNBC reported on Monday, removing the risk of an immediate escalation hours before the ceasefire was set to expire, but leaving trade relations fragile.
If the Tuesday deadline was not extended, US duties on Chinese imports would have climbed back to their levels in April, at the height of the tariff war between the world’s two largest trading nations.
The decision, which CNBC said was confirmed by a White House official, follows two weeks of speculation and mixed signals from Washington, after negotiators from China and the US concluded trade talks in Stockholm, Sweden, last month.
Just ahead of the tariff-truce deadline, Trump urged China to quadruple its purchases of American soybeans – a major export to China.
