Trump Delays High U.S. Tariffs on Chinese Goods for 90 Days Following Trade Talks

Trump delayed the snapback of high U.S. tariffs on Chinese goods for 90 days, extending the deadline to mid-November, according to CNBC. Trump signed an executive order hours before the tariffs were set to resume, extending the deadline until mid-November. The delay followed late-July trade talks in Stockholm between U.S. and Chinese negotiators. Trump raised tariffs on Chinese imports to 145% in April, prompting China to retaliate with 125% duties on U.S. goods. In May, both sides agreed to pause most tariffs, reducing U.S. duties to 30% and China’s to 10%. Trump urged China to quickly quadruple its U.S. soybean orders to help reduce its trade deficit with the U.S.