The US and China reached an agreement to extend the trade truce until November 10, just hours before the two largest economies in the world are to impose higher tariffs on each other. The decision was confirmed in a joint statement by Washington and Beijing, which said the extension would halt the increase in tariffs for another 90 days.
&P;in September, the talks between the parties were described as "constructive". As a result, the chief Chinese negotiator emphasized that efforts would be made to preserve the truce, while American representatives expected final approval from President Donald Trump. On Monday, Trump signed an executive order extending the deadline.
Πo The agreement's tariff rate on Chinese goods imported into the United States will remain at 30%, while China will retain a 10% tariff on American exports. The White House said the additional time would be used to negotiate "correcting trade imbalances" and "ending unfair trade practices."
The U.S. is projected to run a trade deficit with China of nearly $300 billion by 2024, its largest with any partner. In addition to balancing trade, the talks will cover broader issues - from access for American companies to the Chinese market, to national security and restrictions on high technology.
&P;ekin calls on the US to overcome "unreasonable" trade conflicts and to work for stability in the global production of polyconductors. "Cooperation between China and the US is the right path - pressure and restraint will get us nowhere", said a spokesman for the Chinese embassy in Washington.
Tensions between the two sides escalated sharply in April after Trump announced new tariffs on goods from a number of countries, with China bearing the brunt. China imposed its own tariffs, which led to mutual tariffs in the triple digits and almost blocked trade between the two economies.
As a result, in May the parties agreed to "freeze" part of the measures, but the duties remained significant - 30% for Chinese exports to the US and 10% for American goods in China. The talks are also currently discussing issues such as access to rare earth elements, Chinese purchases of Russian oil, and restrictions on the sale of American chips. Trump has allowed companies like AMD and Nvidia to resume certain sales that account for 15% of revenue for the US treasury.
The US is also pushing for TikTok to be separated from its Chinese owner, Wu TeDance - a move that has been categorically rejected by Πekin. Despite the truce, trade has suffered severely - imports of Chinese goods into the US in June were almost half what they were a year earlier, and in the first half of 2025, US exports to China fell by about 20% year-on-year.