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US President Donald Trump on Monday would not say whether he will extend an August 12 deadline for higher US tariffs on Chinese goods, telling reporters, “We’ll see what happens,” while noting China’s cooperation in trade talks.
“We’ve been dealing very nicely with China. As you have probably heard, they have tremendous tariffs that they’re paying to the United States of America,” Trump said at a White House news conference. He added that he had a good relationship with Chinese President Xi Jinping.
A tariff truce between Beijing and Washington is due to end on August 12. Without an extension, US tariffs on Chinese goods will rise to 145%, while Chinese tariffs on US products will increase to 125%.
The two countries agreed in May, after talks in Geneva, to a 90-day pause to allow more negotiations. They met again in Stockholm in late July but did not announce an extension.
US Treasury Secretary Scott Bessent has said Washington and Beijing have the basis for a deal and that he is “optimistic” about progress.
On Sunday, Trump called on China to quadruple its soybean purchases from the United States, though analysts have questioned whether such an increase is possible.
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