US and China Extend Trade Truce Deadline

The US and China have extended their trade truce for another 90 days, until November 10, to avoid a hike in tariffs on each other's goods. The decision was made just hours before the tariffs were set to increase. The truce, which was initially agreed upon in May, has kept US tariffs on Chinese imports at 30% and Chinese tariffs on American goods at 10%. The extension gives both countries more time to negotiate on issues such as trade imbalances, unfair trade practices, and access to China's market for US exporters. The US is also pushing for China to lift its restrictions on US companies and to address national security and economic issues. The trade tensions between the two countries have had a significant impact on trade flows, with US imports of Chinese goods falling by nearly 15% in the first half of the year compared to the same period last year.

The article discusses how US markets reacted to recent developments involving President Donald Trump, including his decision to extend a pause on China tariffs and his flip-flopping on various issues. Despite Trump's U-turns, markets appeared unfazed, with US stocks ending lower on Monday while Japan's Nikkei 225 and Australia's S&P/ASX 200 touched record highs. The article also touches on other news, including Elon Musk's threat of legal action against Apple and Trump's praise for Intel's CEO after previously calling for his resignation. Additionally, it highlights Spain's decision to stand up to Trump on defense and China, renouncing US aircraft purchases and resisting pressure to commit to NATO's new defense spending target.

The US and China have extended the deadline for tariffs to come into effect for the second time, with full tariffs now not due until November 10. The 90-day extension allows for further negotiations between the two countries and prevents tariffs from rising to 30%. The move comes after the countries reached an initial framework for cooperation in May, with the US reducing its 145% tariff on Chinese goods to 30% and China's 125% retaliatory tariffs going down to 10% on US items. Chinese stock markets reacted mixedly to the news, with some indices rising and others falling.

The US and China have extended their trade truce for 90 days, potentially paving the way for a summit between President Donald Trump and Chinese President Xi Jinping. The meeting could take place in Kuala Lumpur, South Korea, or China. The two leaders are working towards a 'big, beautiful trade deal' and a positive relationship. US businesses are seeking improved access to China, while China desires foreign investment. The extension of the truce has been seen as a positive step towards improving US-China relations, with some predicting a 'new great partnership' between the two nations.