China and the U.S. eventually reached a truce, which resulted in substantially lower tariff rates, and the two countries have been engaged in negotiations since. U.S. tariffs on China will remain at 30 percent until November, when the new 90-day deadline expires, Trump said in an executive order.

The president has lived up to his “TACO Trump” nickname by giving China a 90-day extension on increased tariff rates at the 11th hour. Tariffs as high as 145 percent were due to be implemented on goods from China at midnight Tuesday.