Trump Extends China Tariff Pause — Implications for Trade and Markets

President Donald TRUMP has granted a reprieve in the U.S.-China trade war, delaying the reinstatement of steep tariffs on Chinese goods until November 9. The move prevents a sudden jump to 145% duties on Chinese imports and averts retaliatory 125% tariffs on U.S. exports. Current rates of 30% on Chinese goods and 10% on American products remain in place, providing temporary relief for businesses amid ongoing negotiations.

Trump's weekend demand for China to quadruple soybean purchases sparked immediate market reactions, with Chicago soybean futures rising. The agricultural sector remains a focal point in trade talks, with potential soybean deals emerging as a bargaining chip in the coming weeks.

Trade discussions show incremental progress after months of meetings across Geneva, London, and Stockholm. However, significant gaps persist between the two economic powers as they navigate complex trade imbalances and strategic interests.