Trump extends the deadline for the Chinese tariff for 90 days

president Donald Trump On Monday, a White House official told CNBC on Monday, delaying the high American definitions of Chinese goods from returning to their place for another 90 days.

These definitions were appointed to appeal after midnight on Tuesday. But Trump has signed a pre -executive hours extending the deadline until mid -November, according to the official.

The delay was the expected result from The latest round of conversations Among the American trade negotiators and their Chinese counterparts, who fell in Stockholm, Sweden, late last month.

If the deadline is not extended, the duties of the United States on China were going to the place where they were standing in April, when the tariff war between the largest commercial countries in the world at its peak.

At the time, Trump operated a blanket tariff on Chinese imports to 145 %, and China had averaged by 125 % over American goods.

But the two sides agreed to stop most of these definitions in May, after the negotiators first met in Geneva, Switzerland. The United States has reduced its tariff to 30 %, and China decreased to 10 %.

The extension of Monday is the latest example of how the winding tariff from Trump has shifted, for example, with a few prior notice, a dynamic that made us a commercial policy Unpredictable For many companies.

Trump has previously announced a very declining tariff for countries or specific sectors, only to expand, modify or stop it after days or weeks.

For example, the “mutual definitions” he initially stopped in early April, then delayed several times before going in a changed form last week.

On Sunday, Trump said he wanted to “quickly take China” its orders from soybeans.

“This is also a way to reduce the trade deficit of China with the United States of America,” Trump wrote in a social publication.

Chicago Soybeans prices rose on monday. It was not immediately clear whether China had agreed to intensify soybeans in response to Trump’s participation.