Aug. 11 at 7:49 PM
President Trump extended the U.S.-China tariff truce until Nov. 9, keeping the 30% tariff rate on Chinese imports instead of letting it rise. This extension delays higher tariffs set for Aug. 12. Trump also exempted gold from tariffs, easing pressure on Switzerland, a major gold refiner
Despite the extension, trade talks remain tense. The U.S. demands increased Chinese agricultural purchases—soybean imports have dropped 50%—and continues restricting China’s access to critical tech and rare earth minerals.
Notably, the White House confirmed a revenue-sharing deal allowing Nvidia and AMD to sell certain GPU chips to China, marking a new chapter in the U.S.-China AI and tech rivalry.
Analysts expect the tariff deadline extension to avoid market disruption and inflation spikes, though many see Trump deferring major concessions while allowing sensitive tech flows to China, as with the Nvidia and AMD agreement.
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