Trump extends the rate deadline in China

The Trump administration has agreed to delay the deadline once again when the prices on Chinese imports increase as the discussions between the two parties continue.

The new deadline would be November 10.

“All the other elements of the agreement will remain the same,” Trump said about social truth.

For companies and consumers, another break means continuous uncertainty while President Donald Trump’s pricing regime enters his fifth month.

Last week, import taxes entered into force for dozens of countries. Prices have shot in the United States while existing import prices from China and others work in the economy, companies eating a large part of higher costs and consumers by absorbing some. Trump has minimized inflation problems and praised the tens of billions of dollars in federal withdrawals.

This is the second time that the Trump administration has delayed the taxation of even higher prices on China, which is one of the largest American trade partners. In 2024, the United States imported more than $ 438 billion in goods, including everything, from electronics to toys, from China.

Although there is no agreement in hand, there was movement on a few fronts. Barely a few days ago, President Donald Trump authorized Nvidia and AMD to start selling part of their artificial intelligence semiconductors in China. China has also released certain restrictions on exports of rare land metals. These are key problems for both parties.

Trump’s back and forth with China on prices started just a few days after returning to the office. In early February, he imposed a 10% rate on all imports from China which quickly retaliated with higher prices. Then, on April 2, Trump said that he would take a price of 34% on China.

Then, a week later, after China has traveled its prices on 84%American products, Trump said on Truth Social: “Based on the disrespect that China has shown in global markets, I increased by this the price loaded in China by the United States of America at 125%, to count immediately.” This brought all the prices of China to a total of 145%.

In early May, seeking to defuse the tension, the Treasury Secretary Scott Bessent and the US trade representative Jamieson Greer met their Chinese counterparts in Geneva. After these talks, China and the United States both lowered the prices on each other of 115% for 90 days. The resulting American price on Chinese products has remained 30%.

A few weeks later, Trump declared on Truth Social that “China, perhaps without surprise for some, completely violated its agreement with us”. Later, US officials said China “rolled slowly” the delivery of rare land.

Bessent and Greer met their counterparts again, namely Chinese Deputy Minister, He Lifeng, London in mid-June. Commerce secretary Howard Lungick also joined these talks, which gave positive language.

“The two largest economies in the world have reached a handshake for a frame,” said Lunick at the end of London talks. Since this meeting, the details of this framework agreement have not been published or published by any government.

But these discussions finally led China to resume the expeditions of certain rare land used for the manufacture of vehicles, smartphones, batteries and a number of other everyday items. The United States has also enabled manufacturers of fleas avidia and AMD to restart sales of some of its tokens in China, which they were temporarily prohibited from doing. Nvidia took A blow of $ 5.5 billion of this ban while AMD predicted An impact of $ 800 million.

But a business agreement in its own right with China remains elusive despite at least seven days of face -to -face talks this year between senior officials on both sides.