Trump extends tariff truce with China by 90 days
The president assured that the negotiation on tariffs with China is going "quite well."
President Xi Jinping and President Donald Trump.
President Trump signed an executive order Monday that extends the tariff truce with China for 90 days, according to reports from CNBC.
Likewise, the president assured that negotiations with the Asian giant are going "quite well," hours before the tariff truce between the two world powers was set to expire.
"We'll see what happens (...) The relationship between President Xi (Jinping) and myself is very good," Trump added at a press conference.
Shortly before Trump's announcement, China said it expected a "positive" outcome from negotiations with Washington.
"We hope the United States will work with China to respect the important consensus reached during the telephone conversation between the two heads of state (....) and strive to achieve positive results on the basis of equality, mutual respect and mutual benefit," Lin Jian, spokesman for the Ministry of Foreign Affairs, said in a statement.
Economy
Trump says he plans to impose a 100% tariff on imported chips, but would exempt manufacturers that produce in the U.S.
Emmanuel Alejandro Rondón
Nvidia to pay US for its sales in China
At a White House press conference, Trump argued that the H20 chips Nvidia will sell in China are "obsolete," even though they were subject to export restrictions recently.
He also indicated that to reverse these restrictions, he agreed with Nvidia to pay a 15% fee, which he did not specify whether it is a percentage on turnover or on profits derived from sales.
"If I'm going to do that, I want them to pay us something as a country, because I'm giving them a release. I just released them for H20," the president asserted.
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