U.S. and China agree to extend trade truce through January 10, Bessent says
The extension gives both sides more time to negotiate tariff cuts, farm purchases and an AI incident hotline, Bessent said.
- Treasury Secretary Scott Bessent announced on Wednesday that The United States and China have extended the 'Busan Agreement' trade truce through January 10, moving the expiration date from November 10.
- Washington hosted an unscheduled meeting between Bessent and Vice Premier He Lifeng earlier Wednesday; minutes later, President Xi Jinping arrived to begin his first trip to The United States in over a decade.
- Since Sunday, Bessent and Trade Representative Jamieson Greer have held talks proposing an AI-related 'hotline' for safety incidents while discussing lists of goods for lower tariffs under Trump's 'Board of Trade' initiative.
- Chinese deliverables have not been perfect, Bessent noted, as The United States expects more fulsome enactment of existing agreements during coming months to test Beijing's commitment.
- Officials suggested a larger economic package may be negotiated by January, though they may alternatively 'just roll the current deal' pending announcements on agricultural and financial services deals with China.
198 Articles
198 Articles
US and China Extend Trade Truce Until January, Easing Tariff Tensions
The US and China have agreed to extend their trade truce until January, according to Treasury Secretary nominee Scott Bessent. The move eases tensions, reduces near-term risks for businesses and farmers, and provides time for negotiations on tariffs, market access, and structural issues. Markets reacted positively to the announcement.
Bessent: We Extended 'Economic Détente' with China, They've Been 'Very Fulsome' on Soybean Purchases, But Not Other Ag. Deals
On Wednesday’s broadcast of the Fox News Channel’s “Special Report,” Treasury Secretary Scott Bessent said that we extended the “economic détente” between the U.S. and China and China has “been very fulsome” on its agreements on soybean purchases, but “They
'Busan Agreement' explained: What the US-China trade truce means for world trade
US Treasury Secretary Scott Bessent announced the extension of the Busan Agreement until January 10, 2027. This extension allows both sides more time to negotiate without facing immediate tariff threats. The Busan Agreement was initially established to ease trade tensions between the US and China last year. Key areas of focus include agriculture and non-tariff barriers that require further discussion.
Washington and Beijing have extended by two months their trade truce, which limits the size of tariffs and ensures the supply of Chinese rare earth elements to the United States, US Treasury Secretary Scott Besant told Fox News, BTA reported. The announcement of the extension of the truce, which expired on November 10, comes amid a visit to Washington by Chinese President Xi Jinping, who was greeted late Wednesday local time by his US counterpar…
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