The market is digesting with bated breath news about progress in the US-China trade negotiations. China is extending its trade truce with the US for another 90 days. It seems there is some sign of mutual understanding between Washington and Beijing.
On Tuesday, August 12, China’s Ministry of Commerce extended the trade truce with the United States for 90 days. This happened just a few hours after US President Donald Trump signed the corresponding order.
Against this backdrop, China’s Ministry of Commerce announced the suspension of additional tariffs on US goods for another 90 days.
The ministry also reported its readiness to work on reducing non-tariff barriers for American companies. At the same time, the agency will refrain from adding certain US firms to its lists of unreliable entities and export control. This decision will remain in force for the specified 90-day period.
This step will allow the world’s two largest economies to maintain relatively low mutual tariffs until November 10, 2025. The recent resumption of US chip exports and Chinese rare earth metal exports will also remain in place.
It is expected that US tariffs on Chinese goods will stay within the range of 30%–50%, while Chinese tariffs on American goods will be 10%–20%. Earlier, in May this year, the two countries agreed to reduce their customs duties from the excessive level of 100% and above.
