NEGOTIATIONS CONTINUE
Beijing and Washington agreed to the 90-day truce in Could after talks in Geneva, with additional discussions held in Stockholm in July. These conferences didn’t produce a proper extension till Monday’s order.
Kelly Ann Shaw, a former White Home commerce official underneath Trump, mentioned the president typically pushed choices to the final minute and predicted the truce may very well be prolonged once more. “The entire cause for the 90-day pause within the first place was to put the groundwork for broader negotiations,” she mentioned.
Ryan Majerus, a former US commerce official now with King & Spalding, mentioned the extension would “undoubtedly decrease nervousness on each side” and provides time to handle long-standing commerce considerations.
WIDER ECONOMIC ISSUES
The White Home didn’t elaborate past Trump’s remarks, and the Treasury Division and US Commerce Consultant’s Workplace declined to remark.
Treasury Secretary Scott Bessent mentioned Washington was optimistic about reaching a deal. Trump has additionally been urgent China to halt purchases of Russian oil, threatening secondary tariffs if Beijing doesn’t comply.
