Bessent Says U.S. and China Extend Trade Truce to January 10

U.S. Treasury Secretary Scott Bessent said Wednesday that the United States and China had agreed to extend their trade truce through January 10, postponing its scheduled November 10 expiration as the countries prepared for talks between President Donald Trump and Chinese President Xi Jinping. The reported extension gives negotiators more time to pursue a broader agreement, but the terms of any larger deal remain unsettled. Bessent announced the extension after meeting Chinese Vice Premier He Lifeng in Washington. He described the arrangement, known as the Busan Agreement, as an economic detente between the two countries. The extension would last two months, according to the dates Bessent gave. The supplied reports contain no separate joint announcement or Chinese confirmation of the extension. Earlier Wednesday, before announcing the extension, Bessent had said the United States was open either to continuing the existing truce or examining a larger deal proposed by Chinese representatives during an earlier round of talks. He provided no details of that proposal.