US and China agree to critical extension, preventing tariff surge on the world’s two largest economies

The United States and China agreed to pause tariff hikes on each other’s goods for an additional 90 days, according to an executive order signed by President Donald Trump on Monday. Without the agreement, tariffs were set to immediately surge, risking a return to ultra-high levels that had formed an effective blockade on trade between the world’s two largest economies.The news, first reported by