US, China Extend Trade Truce to January 10 as Xi Arrives in Washington

U.S. Treasury Secretary Scott Bessent said on Wednesday that the United States and China agreed to extend their bilateral trade truce by two months, pushing the deadline from November 10 to January 10, 2027. The announcement came minutes after Chinese President Xi Jinping arrived in Washington for his first state visit in more than a decade. Bessent said the extension of the so-called "Busan agreement" followed an unscheduled meeting with Chinese Vice Premier He Lifeng. He said the two sides could reach a broader economic deal before January, or simply extend the current arrangement again, noting China's compliance has been "not perfect." Bessent said Beijing may announce additional measures in coming days, including purchases of U.S. agricultural products and potential financial services deals. U.S. Trade Representative Jamieson Greer said the two sides may also establish lower-tariff lists for consumer and low-tech goods, energy, farm products and medical devices, alongside a proposed AI-related threat notification mechanism.