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Trump extends China truce for 90 days, averting tariff hike

Jenny Leonard, Josh Wingrove and Jennifer A. Dlouhy / Bloomberg
Jenny Leonard, Josh Wingrove and Jennifer A. Dlouhy / Bloomberg • 5 min read
Trump extends China truce for 90 days, averting tariff hike
Flows of rare earth magnets from China to the US rose to 353 tons in June, up from just 46 tons in May / Photo: Bloomberg
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President Donald Trump extended a pause of sky-high tariffs on Chinese goods for another 90 days into early November, stabilising trade ties between the world’s two largest economies.

Trump signed an order extending the truce, according to a person familiar with the matter. The pact, which saw the US and China agree to reduce tit-for-tat tariff hikes and ease export restrictions on rare earth magnets and certain technologies, was due to expire Tuesday.

The text of the order wasn’t immediately available and it was unclear if it included any other changes to US trade policy or to the terms of the arrangement.

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