China-US customs duty truce extended for another 90 days

The US has taken a new step just hours before the customs duties exceeding 100 percent on China were set to take effect.

An unnamed White House official announced that US President Donald Trump has signed a decree extending the customs duty truce regarding the tariffs exceeding 100 percent between China and the US for another 90 days.

With the extension decision, the increase of US customs duties on Chinese goods to 145 percent has been prevented for another 90 days. The US currently applies a 30 percent customs duty on Chinese goods, while China applies a 10 percent customs duty on US products.

Chinese and US delegations had met in Geneva, Switzerland in May, in London, the capital of the UK in June, and in Stockholm, the capital of Sweden last month to end the trade war.