US May Extend China Tariff Deadline by 90 Days

In a recent interview with Fox Business Network, United States Commerce Secretary Howard Lutnick suggested that the US is likely to extend the tariff halt against China for another 90 days. This extension would push the deadline beyond the initial expiration date of August 12, providing more time for negotiations and decisions.

Lutnick also clarified that US President Donald Trump will not impose tariffs on tech businesses if their semiconductors are manufactured in the US. This statement aims to reassure the tech industry amidst ongoing trade tensions.

Additionally, Lutnick adjusted the expected tariff revenue projections, stating that the US now anticipates $50 billion a month, a significant decrease from the previously estimated $700 billion. This adjustment reflects the current state of trade relations and economic forecasts.