China Extends U.S. Trade Truce By Two Months
The trade truce was initially due to expire on November 10, ahead of a meeting between Chinese and U.S. leaders at the APEC summit...
China has extended its trade truce with the U.S. by two months, effectively maintaining the suspension of certain trade measures. The truce was set to end on November 10, but Chinese President Xi Jinping and U.S. President Donald Trump are scheduled to meet at the APEC summit in China the following week. The extension was announced by China, providing both nations more time to discuss economic matters.
While the $60-billion package of tariff cuts, including $17 billion in U.S. farm goods, remains unfinalized, China will continue to suspend tariffs on critical minerals and related technologies until January 10, 2027. The U.S. has also agreed to extend its suspension of special port fees on U.S.-linked vessels and the probe into shipping and shipbuilding supply chain security, both of which will remain in effect until the same date.
China notes that the U.S. plans to use Section 301 tariffs to replace tariffs deemed invalid by judicial rulings, and it will adjust its tariff countermeasures as U.S. actions warrant.
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