President Donald Trump has signed an executive order extending the suspension of U.S. tariffs on Chinese goods for an additional 90 days, a White House official told CNBC on Monday.
The decision follows a preliminary agreement reached last month in Sweden between negotiators from both nations. Trump’s advisers had previously expressed optimism that he would approve the extension.
When pressed by reporters on Monday morning about the renewal of the deal, Trump declined to give a direct answer.
The 90-day extension is expected to ease fears of a renewed tariff war that could disrupt trade between the United States and China. Earlier this year, rising tensions between Washington and Beijing triggered significant volatility in global financial markets.
The move also provides both countries with extra time to address several outstanding issues that remain on the negotiating table.
President Donald Trump has signed an executive order extending the suspension of U.S. tariffs on Chinese goods for an additional 90 days, a White House official told CNBC on Monday.
The decision follows a preliminary agreement reached last month in Sweden between negotiators from both nations. Trump’s advisers had previously expressed optimism that he would approve the extension.
When pressed by reporters on Monday morning about the renewal of the deal, Trump declined to give a direct answer.