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On Monday, U.S. President Donald Trump avoided giving a clear answer on whether he will extend the August 12 deadline for higher tariffs on Chinese goods. When asked, he simply said, “We’ll see what happens.”
Speaking at the White House, Trump sounded upbeat about trade talks with China. He said the two countries have been dealing well with each other and mentioned that China is paying large tariffs to the U.S. He also said he has a good relationship with Chinese President Xi Jinping.
If the current pause in the trade dispute ends on Tuesday without an extension, tariffs will rise sharply. The U.S. would increase tariffs on Chinese goods to 145%, and China would raise tariffs on U.S. goods to 125%.
The truce began in May after talks in Geneva, when both sides agreed to a 90-day negotiation period. They met again in Stockholm in late July, but no deal to extend the deadline was announced.
U.S. Treasury Secretary Scott Bessent has expressed hope for an agreement, saying there are signs a deal could be made.
On Sunday, Trump asked China to buy four times more soybeans from the U.S., but some experts doubt this demand is realistic.