Bessent Says U.S. and China Agreed to Extend Trade Truce
The agreement would extend the pause beyond its November expiration through Jan. 10, allowing more time for economic negotiations.
U.S. Treasury Secretary Scott Bessent said the United States and China agreed to extend their trade truce by two months, keeping the arrangement in place through Jan. 10 after its scheduled November expiration.
Bessent said the additional time would allow the two sides to continue discussions on economic measures. The agreement was reached last year in South Korea after President Donald Trump imposed high tariffs on Chinese exports, escalating tensions between the two countries.
Under the truce, the United States suspended some tariffs and other restrictions on China’s economy. China agreed to stabilize supplies of rare-earth minerals used in products including automobiles, semiconductors, aircraft and power tools.
The extension remains tied to the agreement described by Bessent and would run until Jan. 10, giving negotiators a defined deadline for further talks.
