US President Donald Trump has signed an executive order postponing the return of high tariffs on Chinese goods for another 90 days.
A White House representative has announced this, CNBC reports.
The tariffs, which were supposed to go into effect again on Tuesday, have now been postponed until mid-November. The decision was an expected outcome of the latest round of talks between US and Chinese trade delegations, which took place in Stockholm in late July.
Without the move, US tariffs on Chinese imports would have returned to the levels they were at in April, when the trade war between the two countries was at its peak: 145% from Washington and 125% from Beijing.
In May, after talks in Geneva, the two sides agreed to temporarily reduce tariffs, with the US cutting them to 30% and China to 10%. The new delay gives the two sides more time to find a compromise.
Recall, Trump explained why he did not tighten sanctions and did not impose tariffs against the aggressor country russia, which he had repeatedly said before.
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