U.S. and China agree to extend trade truce through January 10, Bessent says
Bessent said the extension gives both sides more time to pursue a broader deal and possible tariff cuts, agricultural purchases and an AI communication channel.
- 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.
233 Articles
233 Articles
Xi leaves Washington with trade truce extended to January
Chinese President Xi Jinping left Washington on Friday at the end of a state visit that extended the US-China trade truce but produced no major new agreements. Treasury Secretary Scott Bessent said the two countries had agreed to extend their trade truce to 10 January, NBC News reported. Artificial intelligence was also on the agenda. Before the […] This story continues at The Next Web
The summit in the U.S. capital between President Donald Trump and his Chinese counterpart Xi Jinping, which ended on Friday, was marked by a lot of fascination. The concrete results, on the other hand, were meagre: extension until 10 January only of the trade truce between the two countries, and announcement of the forthcoming arrival of two pandas, emblematic of Chinese diplomacy, in the United States. Leaders exchanged strong friendships and p…
The USA is extending the pause in the customs dispute with China by two months. This also affects the Swiss tech industry.
US AND CHINA SAID TO WEIGH TARIFF EXEMPTIONS ON AG, MEDICAL AND LOW-TECH GOODS AS TRUCE EXTENSION SPARKS REACTION
A Fox report that Washington and Beijing will announce tariff exemptions on agricultural, medical and low-tech goods is drawing sharp reaction online and cautious readouts from analysts, even as Next News Network could not independently verify the claim. The reported exemptions would sit on top of a two-month truce extension that Treasury Secretary Scott Bessent has said runs to January.
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