Trump delays China tariffs, declares gold tariff-free

The tariff truce between the U.S. and China will stay in place until early November amid speculation that their two leaders may hold talks on the sidelines of the APEC meeting here in South Korea this coming autumn.

Lee Soo-jin has the latest.

U.S. President Donald Trump signed an executive order on Monday extending the U.S.–China tariff truce by 90 days.

The move finalizes the outcome of last month's high-level trade talks in Sweden.

As a result, U.S. tariffs on China, cut to 30 percent in May, and China's tariffs on the U.S., lowered to 10 percent, will remain in place until early November.

"We'll see what happens. China's been, we've been dealing very nicely with China. The relationship is very good with President Xi and myself."

Analysts say any breakthrough is likely to come only after a face-to-face meeting between President Trump and China's President Xi Jinping , possibly on the sidelines of the APEC meeting in Gyeongju, South Korea, this October.

Trump said in an August 5th phone interview with CNBC that Xi had asked for a meeting and that they would "most likely meet before the end of the year" if a deal is reached.

In a separate announcement, Trump said gold imports will be tariff-free.

On Truth Social, the President wrote, "Gold will not be Tariffed!"

The post came after reports that U.S. Customs planned to apply tariffs to one-kilogram gold bars , news that sent prices to record highs last week.

Following Trump's statement, gold futures fell more than two percent, calming earlier market jitters.

Lee Soo-jin, Arirang News.