Trump Extends China Tariff Truce, Exempts Gold from Duties

President TRUMP signed an executive order extending the tariff truce between the U.S. and China for another 90 days, pushing trade negotiations into the fall. The move maintains the status quo in a tense economic relationship that has reshaped global supply chains.

In a notable development, Nvidia and AMD agreed to pay the U.S. government 15% of revenue from AI-related chip sales to China. The arrangement effectively makes Washington a silent partner in these tech giants' Chinese operations. Nvidia's H20 AI accelerator and AMD's MI308 chips—previously subject to export controls—fall under this unprecedented revenue-sharing scheme.

Gold markets saw muted reaction after Trump declared the metal WOULD face no import tariffs. Futures prices remained stable despite earlier declines, as traders had largely priced in the exemption.