U.S.-China trade truce extended as Xi gets rare welcome from Trump

U.S. Treasury Secretary Scott Bessent has confirmed that the United States and China have extended their trade truce by two months. This extension comes as President Xi Jinping arrives in the United States for his first state visit in eleven years. The couple, including First Lady Peng Liyuan, touched down at Joint Base Andrews outside Washington D.C. on Wednesday evening.

Donald Trump, the U.S. president, shook hands with the couple, marking a historic moment as he becomes the first U.S. president in nearly 60 years to receive a foreign counterpart at the airport, aside from visits by the pope. Bessent also revealed a new deadline of January 10 for the trade deal that was signed last year, aimed at reducing tariffs between the world's two largest economies.

When asked if a more substantial agreement could be reached, Bessent responded that he was unsure, stating, "I don’t know whether a bigger deal can be done."