Washington, Sep 24 (V7N)- The United States and China have agreed to extend their ongoing trade truce ahead of a highly anticipated meeting between US President Donald Trump and Chinese President Xi Jinping.
US Treasury Secretary Scott Bessent confirmed the agreement as Trump welcomed Xi at Joint Base Andrews, according to reports.
Under the agreement, the existing trade truce, which was due to expire in November, will remain in effect until at least January 10 next year.
The extension followed several rounds of discussions between US representatives and Chinese Vice Premier He Lifeng. The talks were held first in New York over the weekend and later in Washington on Wednesday.
The agreement temporarily eases tensions between the world's two largest economies, which have been engaged in a prolonged trade dispute.
The trade conflict intensified in 2025 after the Trump administration imposed successive rounds of tariffs on Chinese imports. Beijing responded with restrictions on the export of rare earth minerals, which are widely used in the technology and manufacturing industries.
The measures heightened concerns over supply chains and increased pressure on both countries to reach a broader trade agreement.
The extension of the truce is expected to provide additional time for Washington and Beijing to negotiate outstanding trade issues and prevent an immediate escalation in tariffs and other restrictions.
However, the agreement does not resolve the underlying disputes between the two countries. Key issues remain, including tariffs, access to critical minerals, technology restrictions and broader trade relations.
Trump and Xi are expected to hold formal face-to-face talks on Thursday, with trade and economic relations likely to be among the issues on the agenda.
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