Trump and Xi Extend Trade Truce, Leave Major Disputes Open

The Washington summit between U.S. President Donald Trump and Chinese President Xi Jinping produced a two-month extension of the existing trade agreement, but no broad resolution of major disputes. U.S. Treasury Secretary Scott Bessent said the truce’s expiry was moved from November 10 to January 10, 2027, leaving the two governments more time to negotiate while questions over tariffs, purchases, rare-earth supplies and technology restrictions remain open. The extension was the clearest reported outcome of the leaders’ meeting at the White House. Bessent said the agreement would give Washington and Beijing additional time to work on economic issues. The available accounts do not cite the text of a new agreement, and the extension does not settle the outstanding trade questions. Bessent also said China was meeting its commitment to buy 25 million tons of soybeans but lagging on a pledge to purchase $17 billion in other agricultural goods. U.S. officials have said rare-earth deliveries were falling short. Those implementation concerns add to uncertainty about the trade relationship, even as the truce remains in place through the revised January date.