Treasury Secretary Scott Bessent indicated the US is satisfied with the current tariff set up with China, a signal the Trump administration is looking to maintain calm with its economic rival before a trade truce expires in November.

A 90-day pause on imposing higher tariffs on China is due to expire on Tuesday and it is unclear if it will be extended.

The United States and China agreed to pause tariff hikes on each other’s goods for an additional 90 days, a White House official told CNN. Without the agreement, tariffs were set to immediately surge,

Treasury Secretary Scott Bessent said the U.S. is "very happy" with the current tariff situation with China, indicating there likely won't be any immediate changes to the trade truce between the two countries.

Scott Moe, premier of the western Canadian province of Saskatchewan, said on Thursday that he would travel to Chinasoon for talks on persuading Beijing to drop its new tariffs on canola.

While Sony didn’t attribute the increase to Trump’s tariffs, consumer companies have been warning for months that higher prices are on the way.

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