U.S. and China agree to extend trade truce through January 10, Bessent says
Scott Bessent said the two-month extension gives negotiators more time to seek a broader deal and preserve tariff relief.
- 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.
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The two-month extension would provide room for progress in negotiations with Washington, says Beijing
Two-Month Trade Truce Extension Leaves Markets Cold After Trump-Xi Summit
Donald Trump gave Xi Jinping the full state-visit treatment in Washington, but markets were more interested in what the two leaders did not deliver. After three days of ceremony, an unusually warm presidential welcome and repeated pledges to stabilize relations between the world's two largest economies, the main economic outcome was a two-month extension of the existing U.S.-China trade truce, pushing its expiration from November 10 to January 1…
China says US trade truce extension creates space to advance talks
WASHINGTON — US President Donald Trump welcomed Chinese President Xi Jinping to Washington on Wednesday (Sept 23) for a three-day visit that will test relations between the superpowers as tensions simmer over trade, technology, Taiwan and Iran.Xi's first trip to the US in nearly three years was not expected to deliver major breakthroughs, but Washington and Beijing could extend their...
US-China trade truce extended as both sides seek progress on tariffs and trade
China said on Monday that a two-month extension of its trade truce with the United States would give both sides more time to assess the implementation of their existing arrangements and discuss further steps to resolve economic and trade disputes. China’s Commerce Ministry confirmed that the truce would remain in place through January 10, saying […]
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