President Trump announced another extension on additional tariffs, giving China another 90 days to figure out a deal.
He signed the executive order last night, noting all other details surrounding China will stay the same. This puts the timeline out to early November. Treasury Secretary Scott Bessent says talks with China have been difficult, and says the country has the most imbalanced economy in the history of the modern world.
The 90-day delay came just hours after President Trump encouraged China to buy more American soybeans, which sent beans to a two-week high.
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China will reduce its tariffs from 125% to 10%. In return, the U.S. will lower tariffs on most Chinese goods from 145% to 30%.
