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.

U.S. levies on Chinese goods like toys, footwear and furniture could rise sharply if a deal is not approved by Tuesday’s deadline.

Once upon a time, a decision to delay sky-high tariffs on China would have been an 11th hour save—but in 2025 markets barely noticed.