US President confirmed on Monday extending with for 90 more days.
“I have just signed an Executive Order that will extend for another 90 days. All other elements of the Agreement will remain the same,” Trump posted on his Truth Social platform, hours before the initial pause was due to expire.
The most recent Executive Order will expire after midnight on November 10, allowing more time for both countries to reach a solution.
China also announced it will suspend additional tariffs on US goods for 90 more days, the Reuters news agency cited its Commerce Ministry as saying on Tuesday.
What else do we know about the Trump executive order?
Trump’s executive order said that China has continued to “take significant steps” toward solving the US concerns regarding trade and security matters, while also mentioning the ongoing negotiations between the two countries.
But the order still maintained the existence of “large and persistent annual US goods trade deficits” and they “constitute an unusual and extraordinary threat to the national security and economy of the United States.”
It acknowledged Washington’s ongoing discussions with Beijing “to address the lack of trade reciprocity in our economic relationship” and noted that China has continued to “take significant steps toward remedying” the US complaints.
“We’ll see what happens,” Trump told a news conference earlier on Monday, highlighting what he called his good relationship with Chinese President Xi Jinping.
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