Overview

• President Trump decreed a 90-day extension on August 12, preserving reduced duties of about 30% on Chinese goods and 10% on US imports to China until November 10.
• US officials said the extended suspension enshrines a roughly 15% revenue share on domestic companies’ advanced AI chip sales to China as an export levy.
• A concurrent 30% US tariff on South African products has prompted urgent diplomatic engagement from Pretoria and potential WTO action by SACU members.
• The tariff truce has lifted immediate market concerns but left major elements of Trump’s tariff program under appeal in US courts, prolonging uncertainty for businesses.
• Negotiators have resumed high-level talks, eyeing a possible Trump-Xi summit to settle trade imbalances, secure rare earth supplies and agree on broader industrial concessions.