US and China extend tariff truce by 90 days amid tensions with India
PTC News Desk: US President Donald Trump extended tariff deadline with China for another 90 days while averting another tariff war between world's largest economies till November 10.
In a post on Truth Social, Trump wrote, "I have just signed an executive order that will extend the tariff suspension on China for another 90 days. All other elements of the agreement will remain the same."
Confirming the development, China said it will cap tariffs on American products at 10 per cent and pledged to tackle non-tariff barriers affecting US goods.
The tariff deadline between Beijing and Washington was slated to end on August 12. The development follows latest round of negotiations between both the nations in Stockholm last month. The two countries had initially agreed in May to suspend most tariffs for 90 days following talks in Geneva.
- With inputs from agencies
