U.S. President Donald Trump has once again opted to extend the temporary truce in the ongoing trade dispute between the United States and China. The decision, announced just ahead of a looming deadline, will prevent a significant hike in tariffs on a wide range of Chinese goods that were poised to take effect.
The 90-day extension is the latest development in a protracted trade war that has seen both nations impose tariffs on billions of dollars worth of each other’s products. The initial truce was implemented following high-level talks aimed at finding a resolution to the trade imbalances and intellectual property concerns at the heart of the dispute. However, analysts caution that the fundamental issues driving the trade dispute remain unresolved, and further negotiations will be critical in establishing a lasting resolution.
The extension provides both Washington and Beijing with additional time to continue their dialogue and work towards a comprehensive trade agreement.