India, Aug. 12 -- The United States and China have agreed to extend a freeze on reciprocal tariff hikes on import of each other's goods for an additional 90 days.
The extension of pause comes into effect on Tuesday, the deadline set by the U.S. to impose an increased tariff of 54 percent on Chinese goods. China had announced that it would impose a tariff hike of 34 percent on American goods on the same day.
China will maintain the 10 percent tariff on U.S. goods while the United States will continue its import duty on Chinese goods at 30 percent until November 10.
The United States said in a joint statement with China that it will continue to modify the application of the additional ad valorem rate of duty on articles of China set forth ...