Kathmandu: The United States and China have agreed to extend their trade truce until 10 November, hours before higher tariffs were set to take effect, BBC reported.
In a joint statement, both sides confirmed that the 30% US tariff on Chinese imports and China’s 10% tariff on US goods will remain in place for another 90 days. The extension gives negotiators more time to address trade imbalances, market access, and national security concerns.
The White House cited a nearly $300 billion US trade deficit with China in 2024. Beijing urged Washington to lift “unreasonable” restrictions and cooperate to maintain global supply chains, including semiconductor production.
The truce follows years of escalating tariffs, with rates at one point threatening to reach triple digits, severely curbing trade. US imports of Chinese goods fell by nearly half in June compared with a year earlier, while American exports to China dropped 20% in the first half of 2025.
–BBC