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US_China Tariff Truce Extends

The US and China have extended their trade truce for another 90 days, just hours before the world's two biggest economies were set to raise tariffs on imports of each other's goods. On Monday, US President Donald Trump signed an executive order to keep the pause in place until 10 November, while Beijing also announced an extension. It means the US will hold its levy on Chinese imports at 30%, while China will keep a 10% tariff on American goods. Washington had threatened trade taxes as high as 145% on Chinese products earlier this year, with Beijing hitting back with 125% duties on US shipments. The rates for both countries were scaled back after a round of trade talks held in Geneva in May.