Trump Delays Tariffs on Chinese Goods

On Monday afternoon, President Trump took the step of signing an executive order to postpone the implementation of tariffs on Chinese products for another 90 days.

This decision came just before the tariffs were set to start. There had been several meetings recently, with both nations discussing possible agreements before reaching the deadline.

Interestingly, the White House did not reply to requests for comments regarding this move.

Trump had initially announced these tariffs on April 2, which raised the rates on Chinese imports to 54%, heightening tensions between the two nations. In response, both sides increased their tariffs on each other’s goods.

Nevertheless, in May, the U.S. and China agreed to a temporary pause in these high tariffs. During discussions in Geneva that month, both countries made some concessions, with China agreeing to reduce its tariffs on U.S. imports to 10%, while the U.S. would lower its tariffs on Chinese goods to 30%.

Following a meeting between the Treasury Secretary and China’s deputy prime minister in late July in Sweden, Trump decided to delay the tariffs. This was the third meeting within a span of three months, and it helped create a framework for easing tariff-related tensions.

While a final agreement with China has yet to be reached, Trump has successfully signed trade agreements with Japan and the European Union. He announced that Japan intends to invest $550 billion in the U.S. and that the EU would refrain from imposing tariffs on American goods.