The Trump administration agreed to delay the deadline once again when tariffs on Chinese imports would increase as discussions continue between the two parties.
The new deadline would be November 10.
“All other elements of the agreement will continue to be the same,” Trump said in Truth Social.
For companies and consumers, another pause means continuous uncertainty as President Donald Trump’s tariff regime enters his fifth month.
Last week, import taxes entered into force for dozens of countries. Prices have increased in the United States, while existing tariffs in China imports and others make their way in the economy, and companies that eat many of the highest costs and consumers absorb some. Trump has minimized inflation concerns and praised tens of billions of dollars in federal tax revenues.
It is the second time that the Trump administration has delayed imposing even higher rates on China, which is one of the largest commercial partners in the United States. In 2024, the United States imported more than $ 438 billion in products, including everything from clothing to electronics, toys, from China.
While there is no deal in hand, there has been a movement on some fronts. Just a few days ago, President Donald Trump authorized Nvidia and AMD to start selling some of his artificial intelligence semiconductors to China again. According to reports, China has also facilitated some export restrictions on rare earth metals. Those were key problems for both sides.
Trump’s part with China on the tariffs began only a few days after he returned to the position. At the beginning of February, he imposed a 10% tariff on all imports from China that quickly take reprisals with higher rates. Then, on April 2, Trump said he would slapped a 34% tariff on China.
Then, a week later, after China rose its tariffs on US assets to 84%, Trump said in Truth Social: “Based on the lack of respect that China has demonstrated to world markets, I am raising the rate loaded to China by the United States of America to 125%, immediately effective.” That brought all China rates to a total of 145%.
In early May, trying to calm the tension, the secretary of the Treasury, Scott Besent and the commercial representative of the United States, Jamieson Greer, met with their Chinese counterparts in Geneva. After those conversations, China and the United States dropped the tariffs together by 115% for 90 days. The resulting American rate on Chinese products remained at 30%.
Only a few weeks later, Trump said in Truth Social that “China, perhaps not surprisingly for some, has totally violated his agreement with us.” Later, American officials said China was “slowly rolling” the delivery of rare earths.
Besent and Greer met their counterparts again, namely, the vice president of China He Lifeng, in London in mid -June. The Secretary of Commerce, Howard Lutnick, also joined those conversations, who threw a positive language.
“The two largest economies in the world have reached a handshake for a frame,” Lutnick said at the end of London’s conversations. From that meeting, the details of that Marco Agreement have not been published or published by either of the two of the Government.
But those discussions eventually led China to resume the shipments of some rare earths used to manufacture vehicles, smartphones, batteries and a series of other daily items. The United States also allowed the Nvidia and AMD chips manufacturers to restart the sales of some of their chips in China, which were temporarily forbidden. Nvidia received a coup of $ 5.5 billion of that prohibition, while AMD predicted an impact of $ 800 million.
But a completely complete commercial agreement with China is still difficult to achieve despite at least seven days of face to face this year between high -ranking officials on both sides.
This is a development history. Consult the updates again.
