U.S. and China agree to extend trade truce through January 10, Bessent says
The extension keeps tariffs lower and gives negotiators more time to pursue a broader deal and new AI communication safeguards, 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.
333 Articles
333 Articles
The White House announced that a significant agreement had been reached in trade negotiations between the United States and the People's Republic of China.
The countries have agreed to reduce tariffs on certain goods, both countries announced following Chinese President Xi Jinping's visit to the United States.
China and the United States agreed to reduce tariffs on goods by $30 billion, create a trade council and launch a dialogue on the risks and benefits of artificial intelligence.
Following Chinese President Xi Jinping's visit to Washington, the two giant economies reached an agreement on a critical tariff reduction covering a total trade volume of $30 billion. The initiative includes concessions on agriculture, consumer goods, and critical minerals, while the two countries also cooperate on artificial intelligence...
The two countries enabled a "United States-China Dialogue on Superintelligence (SI) to exchange views on the risks and benefits" of AI.
BREAKING: Trump Strikes Sweeping Trade Deal With China
The United States and China have reached an arrangement covering reciprocal tariff reductions on $30 billion of “non-sensitive goods” in each direction as part of an eight-point consensus, according to a framework announced Saturday. The announcement follows Chinese President Xi Jinping’s state visit to Washington D.C. earlier this week. The two governments also agreed to […]
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