The United States and China on Monday 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.

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

President Trump extended a pause of sky-high tariffs on Chinese goods for another 90 days into early November, stabilizing trade ties between the world’s two largest economies.