The Trump administration has agreed to delay the deadline once again when the prices on Chinese imports increase as the discussions between the two parties continue.
The new deadline would be November 10.
“All the other elements of the agreement will remain the same,” said Trump on Truth Social.
In a statement accompanying a decree, the White House said that the administration would keep “ongoing negotiations” with China, the second world economy, to “resolve commercial disputes and strengthen economic ties”.
“Each cycle of negotiations with the Chinese has been built on each other, which further strengthens economic cooperation,” added the White House.
A declaration of the joint government made by the Chinese state media said that China would adopt and maintain all the measures necessary to suspend or delete non -tariff measures.
For companies and consumers, another break means continuous uncertainty while President Donald Trump’s pricing regime enters his fifth month.
Last week, import taxes entered into force for dozens of countries. Prices have shot in the United States while existing import prices from China and others work in the economy, companies eating a large part of higher costs and consumers by absorbing some. Trump has minimized inflation problems and praised the tens of billions of dollars in federal withdrawals.
This is the second time that the Trump administration has been delayed to impose even higher prices on China, which is one of the largest American trade partners. In 2024, the United States imported more than $ 438 billion in Chinese products, including everything, from electronics to toys.
Although there is no agreement in hand, there was movement on a few fronts. Barely a few days ago, Trump authorized American technological companies NVIDIA and AMD to take up the sale of some of their artificial intelligence semiconductors in China. China has also released certain restrictions on exports of rare land metals. These are key problems for both parties.
Trump’s back and forth with China on prices started just a few days after returning to the office. In early February, he imposed a 10% rate on all imports from China, which quickly retaliated with higher prices. Then, on April 2, Trump said that he would take a price of 34% on China.
A week later, after China has traveled its prices on 84%American products, Trump said on Truth Social: “Based on the lack of respect that China has shown in global markets, I increased by this the price loaded in China by the United States of America at 125%, in force immediately.” This brought us prices on Chinese products to a total of 145% against 125% in Chinese prices on American products, equivalent to a mutual commercial embargo.
Seeking to defuse the tension, the secretary of the Treasury Scott Bessent and the representative of the US trade Jamieson Greer met their Chinese counterparts in Geneva in early May. After these discussions, the two countries lowered their prices of 115 percentage points for 90 days, to 30% on Chinese products and 10% on American products.
A few weeks later, Trump declared on Truth Social that “China, perhaps without surprise for some, completely violated its agreement with us”. Later, US officials said China “rolled slowly” the delivery of rare land.
Bessent and Greer met their counterparts again, namely the Chinese Deputy Prime Minister, He Lifeng, in London in mid-June. Commerce secretary Howard Lungick also joined these talks, which gave positive language.
“The two largest economies in the world have reached a handshake for a frame,” said Lunick at the end of London talks. Since this meeting, the details of this framework agreement have not been published or published by any government.
A full -fledged trade agreement with China remains elusive despite at least seven days of face -to -face talks this year between senior officials on both sides.
“Beijing will be happy to maintain the American-Chinese negotiation, but it is unlikely to make concessions,” said William Yang, a main analyst of Northeast Asia for the international crisis group based in Taiwan.
“China thinks that Momentum is for its part because Trump has a stronger desire to sign an agreement with Beijing so that he can win the victory and ensure a summit with Chinese President Xi Jinping in the fall,” Yang said.
Such a summit could take place around October 31-Nov. 1 Summit of economic cooperation in Asia-Pacific in South Korea, to whom the two leaders could attend.
