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2d ago

Trump Extends China Tariff Truce to November, Excludes Gold and Approves AI-Chip Deal

Extending the truce forestalls the imposition of 145 percent super-tariffs; the administration secures a revenue-based export framework for select Nvidia and AMD AI chips.

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Overview

  • President Trump signed an executive order extending the 90-day suspension of planned punitive tariffs on Chinese imports until November 9, with a reduced 30 percent rate remaining in force.
  • He clarified that standard gold bars will be exempt from any new import duties, reversing a U.S. Customs proposal that prompted Swiss refiners to halt shipments.
  • The administration reached a reported agreement with Nvidia and AMD to allow certain AI-chip exports to China in exchange for a 15 percent share of related sales revenue.
  • The gold exemption and tariff extension ease immediate market disruption risks, preserving COMEX settlement flows and bullion market stability.
  • The additional breathing room buys Washington and Beijing more time to address unresolved disputes, from fentanyl trafficking to U.S. companies’ operations in China.