BEIJING, China, Aug 12 — US President Donald Trump signed an executive order extending a tariff truce with China by another 90 days, a White House official said on Monday, hours before trade truce between Washington and Beijing was due to expire on Tuesday.
The move follows the third round of China-US economic and trade talks held in Stockholm, Sweden two weeks ago, when both sides agreed to continue pushing for a continued extension by 90 days of the pause on 24 percent reciprocal tariffs of the US, as well as countermeasures by China.
On Monday, China said it hoped the United States will strive for “positive” trade outcomes.
“We hope the United States to work with China to follow the important consensus reached during the phone call between the two heads of state, give full play to the role of the Sino-US economic and trade consultation mechanism, and strive for positive results on the basis of equality, respect and reciprocity,” China’s Foreign Ministry spokesperson Lin Jian said at a regular news conference.
Beijing and Washington agreed in May to pause triple-digit import rates for 90 days during talks in Geneva.
US levies were then set at 30 percent on Chinese imports to the US, while US products to China were given a 10 percent tariff.
Meanwhile, US chip makers Nvidia and AMD have agreed to pay the US government 15 percent of their China sales.
The unusual arrangement was seen as part of the conditions for the companies to receive export licenses to China.
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