Trump extends tariff suspension on China to 90 days; says India tariffs a ‘big blow’ to Russia

By Anjali Sharma

WASHINGTON – US President Donald Trump on Tuesday announced that he would extend the tariff suspension on China for 90 days, and added that US tariffs on India are a big blow to Moscow.

He said on Truth Social “I have just signed an Executive Order that will extend the Tariff Suspension on China for another 90 days. All other elements of the Agreement will remain the same. Thank you for your attention to this matter! DONALD J. TRUMP, PRESIDENT OF THE UNITED STATES OF AMERICA.”

The imports from China are subject to a 30% U.S. tariff a 10% base rate plus an additional 20% fentanyl-related duty introduced in February and March.

In retaliation, China has cut its tariffs on American goods to 10%.

Both agreed in May, to a 90-day truce to allow more negotiations. The discussions took place in Stockholm in July, no extension was announced until Trump’s order on Monday.

U.S. Treasury Secretary Scott Bessent voiced optimism, said “Washington has the makings of a deal with China.”

Trump also said that US tariffs on Indian oil imports from Russia a ‘big blow’ to Moscow.

He explained as he addressed a press conference at White House, “I think Russia has to get back into building their country. It’s a massive country. They have tremendous potential in Russia to do well. They’re not doing well. Their economy is not doing well right now because it’s been very well disturbed by this,” Doesn’t help when the President of the United States tells their largest or second-largest oil buyer that we’re putting a 50% tariff on you if you buy oil from Russia. That was a big blow.”

China and the US released a joint statement on the bilateral economic and trade meeting in Stockholm.

according to the joint statement the US will continue to modify the application of the additional ad valorem rate of duty on articles of China (including articles of the Hong Kong Special Administrative Region and the Macao Special Administrative Region), by suspending 24 percentage points of that rate for an additional period of 90 days, starting on Aug. 12.

The joint statement said that China will continue to suspend 24 percentage points of additional ad valorem rate of duty on articles of the US and related non-tariff countermeasures for another 90 days, starting on Aug. 12.

Trump imposed 25% reciprocal tariffs on India, along with an additional 25% levy on its purchases of Russian oil, resulted in a total of 50% duties.