US and China Extend Trade Truce Until January
The United States and China agreed to extend the trade truce, reached in October of last year in Busan (South Korea), by two months, until January 10, 2027, announced the US Treasury Secretary Scott Bessent after a meeting with Vice Premier He Lifeng of the State Council of China in Washington.
According to Bessent, the two-month extension will give both sides time to negotiate a more comprehensive trade deal. The Chinese Embassy in the United States did not comment on the information.
The US stated that China is fulfilling its commitment to purchase 25 million tons of soybeans, but is lagging behind its plan to purchase other agricultural goods worth $17 billion. Washington also reported delays in the supply of Chinese rare earth metals.
The United States and China agreed to extend the trade truce, reached in October of last year in Busan (South Korea), by two months, until January 10, 2027, announced the US Treasury Secretary Scott Bessent after a meeting with Vice Premier He Lifeng of the State Council of China in Washington.
According to Bessent, the two-month extension will give both sides time to negotiate a more comprehensive trade deal. The Chinese Embassy in the United States did not comment on the information.
The US stated that China is fulfilling its commitment to purchase 25 million tons of soybeans, but is lagging behind its plan to purchase other agricultural goods worth $17 billion. Washington also reported delays in the supply of Chinese rare earth metals.