An extension of the Washington-Beijing tariff detente remains subject to US President Donald Trump’s approval, one of several deals which are in limbo.
Chinese negotiators earlier said the two sides agreed to a 90-day extension of their truce, but Washington said it hadn’t yet “given the sign off.” With a tariff reprieve expiring Friday, details over a US-European Union agreement have also been disputed, tariffs on India remain unclear, and African economies are awaiting news.
Their dependence on Trump’s whims means “these deals don’t yet represent a new trade order,” The Wall Street Journal’s chief economics commentator wrote. “They are sort of a way station, more fragile and with less legitimacy than the system they have supplanted.”
