The U.S. and China have extended their tariff truce for another 90 days, which was scheduled to expire Aug. 12.
The extension pushes off a huge, open question for U.S. businesses and investors on the future of trade with China. The original deal lowered U.S. tariffs on Chinese goods to 30% from 145% and restarted the flow of crucial rare earth minerals out of China.
President Trump signed an executive order that extended the trade truce between the world’s largest economies. The extension was expected after U.S. and Chinese officials held a third round of trade talks in Sweden late last month. Those negotiations followed the truce deal in Geneva in May and then an agreement on further terms in London in June.
Quick Refresher: Imports from China are currently subject to 30% tariffs, including a 10% base rate and 20% in fentanyl-related tariffs imposed by Trump in February and March. China had matched the de-escalation, lowering its rate on U.S. imports to 10%.
The consensus among the former officials is that President Trump is motivated to reach an agreement, though the exact terms and whether it will be a “bar napkin” agreement or a more formal “Phase 1” type deal remains uncertain.
The RV Industry Association will continue to keep members informed of updates. For the latest on tariffs, visit the RV Industry Association’s Tariff Tracker…
