August 12, 2025- President Donald Trump on Monday delayed high U.S. tariffs on Chinese goods from snapping back into place for another 90 days, according to CNBC. The previous deadline was set to expire at 12:01 a.m. Tuesday, according to AP News. Had that happened the U.S. could have ratcheted up taxes on Chinese imports from an already high 30%. The new order prevents U.S. tariffs on Chinese goods from shooting up to 145%, while Chinese tariffs on U.S. goods were set to hit 125% – rates that would have resulted in a virtual trade embargo between the two countries, according to Reuters. It locks in place a 30% tariff on Chinese imports, with Chinese duties on U.S. imports at 10%.