The US and China are set to prolong their tariff truce by three months, avoiding new tariffs during this period. The current agreement was originally scheduled to end on August 12. Trade talks involving US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are planned to take place soon. Bessent anticipates that the upcoming negotiations will result in a trade-truce extension and expand the subjects addressed, particularly concerning China's oil purchases from Russia and Iran.
The US and China are expected to extend their tariff truce by another three months, with no additional tariffs imposed during this extension according to sources.
The current tariff pause was set to end on August 12, ahead of trade talks scheduled between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng.
Bessent indicated that he expected the trade-truce extension to emerge from the upcoming negotiations, encompassing broader topics like Beijing's oil purchases from Russia and Iran.
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