U.S. and China agree to extend trade truce through January 10, Bessent says
The extension gives negotiators more time to pursue a broader deal as China lags on soybean and rare earth commitments, officials 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.
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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.
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US, China agree on favourable tariff for $30 bn non-sensitive goods, AI dialogue
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China, US agree to establish AI safety channel, continue trade and military talks
(AP) China and the United States agreed to establish a channel for handling artificial intelligence (AI)-related incidents and accelerate work on military crisis communications following a three-day summit between President Xi Jinping and President Donald Trump in Washington, the two governments said yesterday. They also agreed to continue cooperating through a Board of Trade focused on selected bilateral issues. The White House said the board b…
The countries have agreed to reduce tariffs on certain goods, both countries announced following Chinese President Xi Jinping's visit to the United States.
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