{Economic Information Daily, 24th exclusive} As Chinese President Xi Jinping arrived in the United States to begin a state visit, U.S. Treasury Secretary Bessent and Chinese Vice Premier He Lifeng met again on Wednesday and announced that China and the United States have agreed to extend their trade truce until January 10 next year.
On October 30 last year, Xi Jinping and U.S. President Trump held a summit in Busan, South Korea, after which they announced a one-year trade truce agreement. The agreement temporarily suspended certain tariffs, rare earth restrictions, and high fees imposed on China-made and China-owned vessels docking at U.S. ports.
Bessent said, "China has not yet been perfect in some aspects," and when asked whether both sides could reach a broader agreement before the new deadline, he said: "I don't know if we can reach a bigger agreement, nor do I know if we are just extending the current agreement."
When asked what outcomes might be achieved at this Xi-Trump meeting, Bessent said, "We might see announcements regarding financial services and agricultural product purchases." (yc)
On October 30 last year, Xi Jinping and U.S. President Trump held a summit in Busan, South Korea, after which they announced a one-year trade truce agreement. The agreement temporarily suspended certain tariffs, rare earth restrictions, and high fees imposed on China-made and China-owned vessels docking at U.S. ports.
Bessent said, "China has not yet been perfect in some aspects," and when asked whether both sides could reach a broader agreement before the new deadline, he said: "I don't know if we can reach a bigger agreement, nor do I know if we are just extending the current agreement."
When asked what outcomes might be achieved at this Xi-Trump meeting, Bessent said, "We might see announcements regarding financial services and agricultural product purchases." (yc)
