Commerce Secretary Howard Lutnick has stated that new tariffs on China are being considered in response to their purchases of Russian oil, following President Trump’s similar tariffs on India. The current U.S.-China trade truce, set to expire on August 12, is likely to be extended for another 90 days. Companies like Apple, Tesla, and Nvidia may face cost increases or supply disruptions if new tariffs are imposed on China, where much of their supply chain is located. This is a developing story and more details may be updated as they become available.

Read more at QuiverQuant: U.S. Weighs New Tariffs on China Over Russian Oil; Trade Truce Extension Likely