Trump also touted the tariff revenue his country has collected since his return to the White House, saying “we’ve been dealing very nicely with China”.
“We hope that the US will work with China to follow the important consensus reached during the phone call between the two heads of state,” Chinese foreign ministry spokesman Lin Jian said in a statement.
He added that Beijing also hopes Washington will “strive for positive outcomes on the basis of equality, respect and mutual benefit”.
The full text of Trump’s latest order has yet to be released. The 90-day extension means the truce is set to expire in early November, according to the Wall Street Journal.
Shaky truce
Even as both countries reached a pact to cool tensions after high-level talks in Geneva in May, the de-escalation has been shaky.
In June, key economic officials convened in London as disagreements emerged and US officials accused their counterparts of violating the pact. Policymakers met again in Stockholm last month.
US trade envoy Jamieson Greer said last month that Trump will have the “final call” on any such extension.
Trump said in a social media post late Sunday that he hoped China will “quickly quadruple its soybean orders,” adding that this would be a way to balance trade with the United States.
For now, the extension of a truce means that US tariffs on Chinese goods this year stand at 30%.
Under their de-escalation, Beijing’s corresponding levy on US products stood at 10%.
Since returning to the presidency in January, Trump has slapped a 10% “reciprocal” tariff on almost all trading partners, aimed at addressing trade practices Washington deemed unfair.
This surged to varying steeper levels last Thursday for dozens of economies.
Major partners like the European Union, Japan and South Korea now see a 15% US duty on many products, while the level went as high as 41% for Syria.
The “reciprocal” tariffs exclude sectors that have been separately targeted, such as steel and aluminium, and those that are being investigated like pharmaceuticals and semiconductors.
They are also expected to exclude gold, although a clarification by US customs authorities made public last week caused concern that certain gold bars might still be targeted.
Trump on Monday said that gold imports will not face additional tariffs, without providing further details.
The US President has taken separate aim at individual countries such as Brazil over the trial of former President Jair Bolsonaro, who is accused of planning a coup, and India over its purchase of Russian oil.
Canada and Mexico come under a different tariff regime.
-Agence France-Presse
