China, Trump and tariffs
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The United States and China agreed to pause tariff hikes on each other’s goods for an additional 90 days, according to multiple reports citing White House officials. Without the agreement, tariffs were set to immediately surge,
The United States and China have extended a tariff truce for another 90 days, staving off triple-digit duties on each other's goods as U.S. retailers get ready to ramp up inventories ahead of the critical end-of-year holiday season.
After tariff worries chased up import volumes in July, ocean freight rates have steadily fallen on frontloading, capacity issues.
The United States and China appear to be moving toward extending a 90-day trade truce between the two countries, but President Trump must sign off.
The Universal Postal Union said it sent a letter to U.S. Secretary of State Marco Rubio on Tuesday to express concerns the agency’s member countries have about the end of the “de minimis exemption,” including requirements for collecting and transmitting new customs duties.
The Trump administration since early this year has urged Mexican officials to raise duties on Chinese imports as the US has done.
The steep levy on a country considered crucial to U.S. strategic interests in the region is now one of the highest of the many tariffs imposed during Trump's ongoing global trade war.
As punishment for buying Russian oil, President Trump is doubling the tax on goods imported from India, jeopardizing a relationship decades in the making.
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