Washington, Sep 24 (SocialNews.XYZ) The United States and China have agreed to extend their trade truce until January 10, 2027, Treasury Secretary Scott Bessent said, postponing a November deadline as President Donald Trump prepared to host Chinese President Xi Jinping for talks in Washington.
The two-month extension keeps the arrangement reached in Busan, South Korea, in place while the two governments explore whether they can negotiate a broader economic agreement.
Bessent announced the extension on September 23 after meeting Chinese Vice Premier He Lifeng. The existing arrangement had been scheduled to expire on November 10.
The announcement came as Xi arrived for a state visit that includes talks with Trump and a White House dinner. Trade, technology and wider security disputes form the backdrop to the visit.
“We met today to see if we could do a bigger deal as opposed to just a series of smaller things,” Bessent said in a Fox News interview.
He did not commit to completing a broader agreement by the new deadline. Washington remained open to continuing the existing arrangement or considering a larger deal, he said.
Bessent also pointed to outstanding questions over China’s implementation of its commitments. According to the ICIS account, he said Beijing was meeting its commitment to purchase 25 million tonnes of US soybeans but falling short on a separate pledge covering other American agricultural products.
The extension therefore leaves further negotiations ahead. It does not signal that the two sides have resolved all their trade differences.
The economic discussions are taking place alongside efforts to establish a dialogue on artificial intelligence.
Bessent discussed with the Chinese leadership formalising such a dialogue, including a communications channel for serious AI incidents, and meeting again in November in Shenzhen on the sidelines of the Asia-Pacific Economic Cooperation summit.
Those discussions concern a separate area of the relationship. The trade-truce extension itself does not establish that an AI agreement has been concluded.
Xi called for a more stable relationship in a statement issued after his arrival. “The two countries should be partners, not adversaries,” he said.
Source: IANS
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