Overview

• President Trump signed an executive order on August 11 to prolong the suspension of reciprocal tariffs for another 90 days, hours before the Geneva truce was set to expire.
• Under the extension, U.S. duties on Chinese imports remain at roughly 30% and Chinese duties on U.S. goods stay near 10%, averting a return to three-digit rates.
• China’s government confirmed the continued pause through official channels, matching the unchanged terms agreed in May.
• Negotiators led by Treasury Secretary Scott Bessent and Vice Premier He Lifeng have met in Geneva, London and Stockholm and will press forward on core disputes over chip controls, rare-earth exports and market access.
• By holding the current rates, the extension shields businesses from sudden shocks but leaves deeper disagreements unresolved and opens the door to a possible Trump-Xi summit later this year.