Why it matters: The extension comes hours before the truce was set to expire. It pushes off a huge, open question for U.S. businesses and investors on the future of trade with China.

• The original deal lowered U.S. tariffs on Chinese goods to 30% from 145% and restarted the flow of crucial rare earth minerals out of China.

Catch up quick: President Trump signed an executive order that extended the trade truce between the world's largest economies, CNBC first reported on Monday.

• The extension was expected after U.S. and Chinese officials held a third round of trade talks in Sweden late last month.
• Those negotiations followed the truce deal in Geneva in May and then an agreement on further terms in London in June.

Context: After the Sweden talks, Chinese officials said the truce would be extended.

• U.S. officials initially said the Chinese had gotten ahead of themselves and that Trump had to make a decision, before signaling in recent days the extension was coming.

Editor's note: This is breaking news. Check back for updates.