US to extend China trade truce until January
The deal extending the Nov 10 deadline comes after marathon talks between US treasury secretary Scott Bessent and Chinese vice-premier He Lifeng.
US Treasury Secretary Scott Bessent and his Chinese counterpart, Vice-Premier He Lifeng, have extended their trade truce for a further two months. The agreement, originally set to expire on November 10th, will now run until January 10th. This extension comes after intense negotiations between Bessent and He, held in New York on Sunday and Washington on Wednesday.
The truce, dubbed the Busan Agreement, was established last year following a deal between US President Donald Trump and Chinese leader Xi Jinping. The deal aimed to reduce tit-for-tat tariffs and extend certain tariff exemptions. Bessent hinted at the potential for further tariff reductions on US$30 billion worth of non-sensitive goods.
In addition to trade discussions, Bessent and He also explored the possibility of creating a notification system to alert both nations about AI-related incidents or threats.
Written by urgent.news from Free Malaysia Today'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.
- China opens Pinglu Canal to cut 560km off trade route to Asean malaymail.com
- US, China agree to extend trade truce by two months, work on bigger deal, Bessent says nst.com.my
- US to extend China trade truce until January freemalaysiatoday.com
- US, China agree to extend trade truce by two months, work on bigger deal, Bessent says koreatimes.co.kr
- US and China agree to extend trade truce until January: Bessent asia.nikkei.com
