Trump extends US tariff truce with China, CNBC reports

US President Donald Trump has signed an executive order extending by 90 days the tariff truce with China, CNBC reported on Monday, removing the risk of an immediate escalation hours before the fragile ceasefire was set to expire, but leaving trade relations fragile.

The decision, which CNBC said was confirmed by a White House official, follows two weeks of speculation and mixed signals from Washington, after negotiators from China and the US concluded trade talks in Stockholm, Sweden, on July 29.

After the talks, Chinese negotiators declared a consensus for an extension of the pause on tariff increases, while the American side insisted that no deal would be final without Trump’s explicit approval.

Just ahead of the tariff-truce deadline, Trump urged China to quadruple its purchases of American soybeans – a major export to China.

“China is worried about its shortage of soybeans. Our great farmers produce the most robust soybeans,” he said in a social media post late on Sunday.

“I hope China will quickly quadruple its soybean orders. This is also a way of substantially reducing China’s Trade Deficit with the USA. Rapid service will be provided. Thank you President XI,” Trump added.