Scott Bessent says the US and China are giving their trade truce 2 more months
Bessent said the US and China extended their trade truce to January 10, giving both sides more time to pursue a broader deal.
Treasury Secretary Scott Bessent announced the extension of the Busan Agreement with China, according to a report by Business Insider. The US and China have agreed to prolong their trade truce from November 10 to January 10, giving them more time to negotiate. The extension was confirmed during a meeting in Washington between Bessent and Chinese Vice Premier He Lifeng, as Chinese President Xi Jinping arrived for his state visit.
Bessent stated that the extra two months could lead to a more comprehensive deal, or the parties may simply extend the current agreement again. He mentioned that there are some deliverables that have not been fully implemented by China, and they hope to see a more substantial effort from China in the coming months. The meeting between Bessent and He Lifeng may also result in announcements regarding Chinese purchases of American farm products, financial services, and potential reductions in tariffs on specific goods.
Additionally, discussions could include a system for sharing alerts about serious AI-related security incidents.
Written by urgent.news from Business Insider's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
