WASHINGTON – The United States and China have agreed to extend their current trade truce for two months, keeping the measures agreed upon by the two powers in effect until January 10, 2027, while negotiations continue for a broader economic agreement.
The
extension temporarily maintains the previously agreed-upon trade conditions,
including the reduction of certain US tariffs on Chinese goods and Beijing's
suspension of new restrictions on the export of rare earth elements and other
critical minerals.
US
Treasury Secretary Scott Bessent explained that the extension will allow
Washington and Beijing more time to negotiate a potentially broader agreement,
rather than simply addressing trade issues individually.
The
decision comes during Chinese President Xi Jinping's visit to Washington and
his talks with Donald Trump. While the extension reduces the risk of renewed
tariff escalation, other issues related to trade, strategic minerals, and
technology remain unresolved.
The
agreement thus represents a new pause in trade tensions between the world's two
largest economies, as both sides seek to move towards a longer-term
understanding.