President Donald Trump issued an executive order Monday extending current tariff rates with China for an additional 90 days while the countries negotiate.
Tariffs would have reset to reciprocal rates today. The reciprocal rates included 145% tariffs on all Chinese imports. Instead, the extension keeps rates at a 30% base level, although some sector-specific tariffs and tariffs involving products covered under Section 301 tariffs may stack on top of the 30% baseline.
Meanwhile, China said Monday after the extension was granted that it also would extend its lower tariff rate of 10% as negotiations continue.
President Trump said, “We are getting along with China very well.”
The White House said China trade discussions have been constructive, with each round building on the previous one. The White House said discussions are further strengthening economic cooperation and implementation to work toward fair and balanced trade with a key trading partner.
