US Edition
US, China to Seek Extension of Tariff Truce, Trump to Have Final Say
UNITED STATES, JUL 29 – The tariff pause extension provides relief for companies facing duties on over $700 billion in goods since 2018 and aims to reduce tensions amid slowing global growth.
- Recently, China and the United States agreed to extend their 90-day tariff pause, according to Li Chenggang, following talks in Stockholm.
- In May, both sides walked back from imposing triple-digit tariffs and slashed duties for 90 days to de-escalate their trade war, amid past tariff hikes on semiconductors and soybeans.
- Under the truce in May, the United States reduced tariffs to 15%, and China lowered retaliatory tariffs to 10%, Bessent said.
- After the extension, global markets saw a tentative calm, with Bitcoin rising slightly as daily volumes decreased.
- Planning ahead, the International Monetary Fund warns that if the tariff truce expires without an extension by August 12, global supply chains could be disrupted, and economic growth may slow.
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'Tariff wars have no winners': China's stern message to Trump
China on Wednesday slammed the United States (US) after President Donald Trump threatened to impose tariffs on Beijing if it continues to buy Russian oil, saying tariff wars "have no winners". In a post on 'X' (formerly known as Twitter), the Chinese Ministry of Foreign Affairs spokesperson warned Washington and said that Beijing will continue to defend its "sovereignty, security and development interests". "China will always ensure its energy s…
·India
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(Washington Beijing = Yonhap News) Correspondent Cho Jun-hyung and Jeong Seong-jo = The U.S. and China reached an agreement on extending the truce in their tariff war by 90 days on the 29th (local time).
·Korea, Republic of
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Coverage Details
Total News Sources30
Leaning Left6Leaning Right8Center5Last UpdatedBias Distribution42% Right
Bias Distribution
- 42% of the sources lean Right
42% Right
L 32%
C 26%
R 42%
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