The United States and China have extended a tariff truce for another 90 days, staving off triple-digit duties on each other's goods as U.S. retailers get ready to ramp up inventories ahead of the critical end-of-year holiday season.

President Donald Trump extended a trade truce with China for another 90 days, at least delaying once again a dangerous showdown between the world’s two biggest economies.

President Trump’s order continues a reprieve from the threat of escalating tariffs and export controls, which rocked the global economy earlier this year.