U.S. & China Extend Trade Truce Another 90 Days

3 weeks ago President Donald Trump extended a trade truce with China for another 90 days Monday, at least delaying once again a dangerous showdown between the world’s two biggest economies. The previous deadline was set to expire at 12:01 a.m. Tuesday. Had that happened the U.S. would have ratcheted up taxes on Chinese imports from an already high 30%, and Beijing would have responded by raising retaliatory levies on U.S. exports to China. The pause buys time for the two countries to work out some of their differences, perhaps clearing the way for a summit later this year between Trump and Chinese President Xi Jinping.