According to an executive order signed by President Donald Trump, the United States and China have agreed to a 90-day pause on tariff increases on each other’s goods.
The U.S. and China released a joint statement to announce the deal, just hours ahead of a 12:01 am ET deadline.
In the joint press release, the U.S. and China confirmed they would maintain the baseline tariffs on each other’s goods during the 90-day extension of the trade truce.
Following the joint statement, the White House issued its own statement: “Today, President Donald J. Trump signed an Executive Order continuing the suspension of heightened tariffs on China. This action is necessary to facilitate ongoing and productive discussion with China about remedying trade imbalances, unfair trade practices, expanding market access for American exports, and aligning with the United States on national security and economic matters.”
The White House also stated that President Trump said, “We’re getting along with China very well.”
By CEO NA Editorial Staff
