Photo: CNN
Late Monday, President Trump signed an executive order postponing the reintroduction of high tariffs on Chinese imports by 90 days, staving off a sudden spike that could have derailed trade stability. The original deadline, set for Tuesday, was effectively paused just in the nick of time.
Had no action been taken, tariffs could have surged back to levels seen in April—where rates topped 145%—inflicting severe price shocks on consumers and straining global supply chains. Instead, the current rate of around 30% will remain intact until November 9 or 10, depending on time zone calculations.
Trump made clear on his Truth Social that "all other elements of the agreement will remain the same." This includes reciprocal pauses in tariffs, ongoing agricultural negotiations, and discussions around key categories such as rare earths and semiconductors.
He also renewed pressure on Beijing to “quickly quadruple” its purchases of U.S. soybeans, part of broader efforts to narrow the trade deficit and support American farmers.
In yet another dramatic twist, President Trump has avoided a tariff comeback by extending the current tariff freeze. With markets breathing easier and supply chains spared another shock, the extension offers a crucial window to secure a more durable trade agreement. Still, businesses and markets remain on edge—waiting to see if the pause will translate into lasting peace or continue the pattern of uncertainty.