U.S. Enacts Another Pause on Higher Tariffs for Chinese Imports
The U.S. will keep tariffs on Chinese goods at 30%, including a 10% reciprocal tariff, as part of efforts to negotiate a longer-term trade agreement with China.
U.S. President Donald Trump signed an executive order this week that will set back the implementation of higher tariffs on Chinese goods by another 90 days, reports CBS News.
With the order, tariffs on Chinese imports will remain at 30% for the time being. This includes a 10% reciprocal tariff remaining in place until Nov. 10, and an additional 20% that was implemented earlier this year.
The 30% level was first set in mid-May, when China and the U.S. agreed to back off tariffs exceeding 100% and negotiate. That agreement would have expired Tuesday. Without the executive order extending the pause, levies on Chinese goods were expected to spike to at least 80%, and U.S. imports of Chinese goods were predicted to drop dramatically.
China and the U.S. will continue to negotiate a longer-term trade deal with the extension of the pause.
