US and China agree to critical extension, preventing tariff surge on the world’s two largest economies

August 12, 2025

Shortly before tariffs on Chinese goods were set to rise to 54% from 30%, and Chinese tariffs on American exports would return to 34% from 10% the U.S. White House published an Executive Order announcing an extension to the existing tariffs for 90 days.

This extension will give both countries time to continue negotiating key issues like ending China's purchasing of Russian oil while increasing their exports of rare earth magnets.

Please see this link for more information: https://www.cnn.com/2025/08/11/economy/us-china-tariff-extension

Topic(s)

Hot topics

U.S. Tariffs and Canadian Retaliatory Surtax

Security and Trade Facilitation Programs

International Trade and Border Management

Information source

International News Channel

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