Trump extends China trade truce

Wake Up to Money

BBC

Business

4.4 • 754 Ratings

🗓️ 12 August 2025

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

Midnight last night was the deadline Donald Trump had set for China to reach a deal over trade tariffs. But just hours before it expired the US president extended it again – for another 90 days. We speak to one US business feeling the sharp end of import duties. In a busy week for the US President, Sean Farrington talks Russian sanctions and whether they can actually work. And how much money are Crystal Palace likely to lose as a result of their demotion to the third tier of European football, the Conference League?

Transcript

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0:00.0	BBC Sounds, Music, Radio, Podcasts.
0:05.4	Wake Up to Money from BBC 5 Live.
0:08.7	Hello, welcome to Wake Up to Money.
0:11.1	We've got a truce or an extension of a truce.
0:14.2	Donald Trump pushing back his deadline for the US and China to reach an agreement on tariffs,
0:19.5	the deadline being pushed back by another 90 days.
0:23.1	We're going to hear from one business in America about what all this uncertainty has meant for them,
0:28.6	meant for households across the US when it comes to prices.
0:32.4	It's not the only conversation we're having about Donald Trump this week.
0:35.7	Alleyers will be turning to Alaska in a few
0:38.1	days as President Trump meets President Putin. Trade sanctions have been a key part of Western
0:44.2	countries putting pressure on Russia. Have they been working though? And Crystal Palace lost that
0:50.0	appeal at the Court of Arbitration for sports. We'll be playing in Europe's third tier,
0:55.7	the Conference League, this season. What precedent does that set? What will it mean for their finances?
1:01.7	Wake up to money with Sean Farrington. Good morning to you. Wake up to money on BBC 5 Live,
1:09.2	on this Tuesday morning, the 12th of August.
1:11.9	It's just after 5 o'clock.
1:14.4	Thank you for being with us this morning.
1:15.9	We have developments from the United States today about global trade wars.
1:23.0	People watching this very closely.
1:24.6	People like Randeep Somal Fund Manager at M&G Investments.
1:28.2	Randip, very good morning to you.
	...

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