US President Donald Trump has signed an executive order that extends until November 9 the deadline for imposing increased customs duties on imports of goods from China, The Wall Street Journal and The Washington Post wrote , citing a White House official.

The increase was supposed to take effect on Tuesday, August 12, but the president's executive order again postpones the move for 90 days. The postponement will give time for further negotiations on a trade deal and also increase the chances of a meeting between Trump and Chinese President Xi Jinping this fall, Yahoo Finance points out . It will probably take place at the Asia-Pacific Economic Cooperation summit in South Korea in late October.

The extension appears to mean that the prime rates agreed in May - 30% on Chinese goods and 10% on U.S. goods - will remain in place in the near term, and a return to the previous triple-digit tariffs will be avoided, Yahoo Finance explains. Meanwhile, duties on certain categories, such as steel and some medical devices, will maintain the high average level of trade barriers.

This article was AI-translated and verified by a human editor

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