President Trump has signed an executive order extending the U.S.-China tariff truce for an additional 90 days, averting a potential escalation in trade tensions just hours before the previous agreement was set to expire.
This extension postpones any increase in tariffs, keeping American goods imported into China at 10 percent and maintaining U.S. tariffs on Chinese goods at up to 30 percent, showcasing a temporary reprieve in an ongoing trade struggle.
The move aims to create space for further negotiations between the two economic giants, signaling a fragile yet crucial attempt to stabilize their trade relationship.
Following the announcement, Chinese and Hong Kong stocks experienced a rise, reflecting market optimism amid ongoing uncertainty surrounding U.S.-China trade dynamics.
The digital chip industry is also navigating significant changes, with companies like Nvidia and AMD agreeing to share 15 percent of their revenues from sales to China with the U.S. government, intertwining technology and trade strategies.
The turbulent backdrop of tariffs and trade negotiations continues to shape global markets, with the actions and decisions of these two superpowers reverberating throughout the international economic landscape.