US President Donald Trump on Monday signed an order delaying the return of higher tariffs on Chinese goods, just hours before a trade truce between Washington and Beijing was set to expire.

The White House said the suspension of steeper tariffs will now remain in place until November 10.

“I have just signed an Executive Order extending the Tariff Suspension on China for another 90 days,” Trump announced on his Truth Social platform.

The truce on increased levies had been due to end Tuesday.

Earlier this year, the US and China imposed escalating tariffs on each other’s goods, pushing them to triple-digit levels and straining global trade.

In May, however, both sides agreed to temporarily lower tariffs the US rate dropping to 30 percent and China’s to 10 percent.

Those reduced rates will now stay in effect until November, or until a new deal is reached.

Almost simultaneously with Trump’s announcement, Chinese state media Xinhua reported that Beijing would extend its side of the truce for 90 days from August 12, maintaining its 10-percent duty.

The report added that China would also suspend or remove certain non-tariff countermeasures against the US as outlined in the Geneva joint declaration.

In Monday’s executive order, the White House reiterated its view that large and persistent US trade deficits pose “an unusual and extraordinary threat” to national security and the economy.

It also acknowledged China’s recent steps toward addressing US concerns amid ongoing talks to improve trade reciprocity.

Analysts remain cautious. William Yang of the International Crisis Group warned that Beijing may be reluctant to make major concessions, seeing rare earth exports as a bargaining tool to pressure Washington.

US-China Business Council president Sean Stein called the extension “critical,” saying it gives both governments time to work toward an agreement that would offer companies the stability they need for planning.

A trade deal, in turn, would “pave the way for a Trump-Xi summit this fall,” said Asia Society Policy Institute senior vice president Wendy Cutler.

But Cutler, herself a former US trade official, said: “This will be far from a walk in the park.”

Since Trump took office, China’s tariffs have essentially boomeranged, from the initially modest 10 percent hike in February, followed by repeated surges as Beijing and Washington clashed, until it hit a high of 145 percent in April.

Now the tariff has been pulled back to 30 percent, a negotiated truce rate.

Even as both countries reached a pact to cool tensions after high level talks in Geneva in May, the de-escalation has been shaky.

Key economic officials convened in London in June as disagreements emerged and US officials accused their counterparts of violating the pact. Policymakers met again in Stockholm last month.

Trump said in a social media post Sunday that he hoped China will “quickly quadruple its soybean orders,” adding this would be a way to balance trade with the United States.

China’s exports reached record highs in 2024, and Beijing reported that their exports exceeded expectations in June, climbing 5.8 percent year-on-year, as the economic superpower works to sustain growth amid Trump’s trade war.

Separately, since returning to the presidency in January, Trump has slapped a 10-percent “reciprocal” tariff on almost all trading partners, aimed at addressing trade practices Washington deemed unfair.

This surged to varying steeper levels last Thursday for dozens of economies.

Major partners like the European Union, Japan and South Korea now see a 15-percent US duty on many products, while the level went as high as 41 percent for Syria.

The “reciprocal” tariffs exclude sectors that have been targeted individually, such as steel and aluminum, and those that are being investigated like pharmaceuticals and semiconductors.

They are also expected to exclude gold, although a clarification by US customs authorities made public last week caused concern that certain gold bars might still be targeted.

Trump said Monday that gold imports will not face additional tariffs, without providing further details.

The president has taken separate aim at individual countries such as Brazil over the trial of former president Jair Bolsonaro, who is accused of planning a coup, and India over its purchase of Russian oil.

Canada and Mexico come under a different tariff regime.