U.S. and China extend trade truce by 90 days
發佈日期: 2025-08-12 21:07
TVB News
U.S. President Donald Trump has extended a trade truce with China for another 90 days, at least delaying once again a dangerous showdown between the world's two biggest economies.
Trump posted on his Truth Social platform that he signed the executive order for the extension, and that "all other elements of the Agreement will remain the same."
The move prevented taxes on Chinese goods from rising above an already high 30 percent and triggering a Beijing retaliation.
In May, the world was looking at a potential complete halt of trade between the United States and China.
This after U.S. President Donald Trump threatened 145 percent tariffs on Chinese imports, while Beijing was ready to retaliate with 125 percent duties on American goods.
The two sides have since holstered their guns, and on Monday agreed to keep them there for another 90 days.
China will continue suspending tariff hikes on U.S. goods for 90 days starting after midnight on Tuesday.
The pause allows more time for talks and possibly pave the way for a summit later this year between President Xi Jinping and Trump.
In a joint statement, Beijing said it would suspend 24 percent tariffs on U.S. products. China would also stop restrictions on some U.S. companies that imported dual-use goods.
At the height of the dispute, China had cut off or slowed down access to its rare earth minerals and magnets used in a wide range of technologies, from electric vehicles to renewable energy and defence systems.
Meanwhile, U.S. tech giants Nvidia and AMD have agreed to share 15 percent of their revenues from chip sales to China with the U.S. government as part of a deal to secure export licences for semiconductors.
The Trump administration halted the sale of advanced computer chips to China in April over national security concerns, but Nvidia and AMD revealed in July that Washington would allow them to resume sales of the H20 and MI308 chips, which are used in artificial intelligence development.
Trump said he initially asked Nvidia CEO Jensen Huang for 20 percent to sell China the "obsolete" H20.
"So I said, listen, I want 20 percent if I'm going to approve this for you, for the country, for our country, for the U.S., I don't want it myself," said Trump. And he said, "Will you make it 15?" So we negotiated a little deal. So he's selling an essentially old chip that Huawei has a similar chip, a chip that does the same thing."
