AI Image
U.S., China agree to extend trade truce through Jan. 10
NBC News • • nation
Key Points:
- The United States and China have agreed to extend their bilateral trade truce, known as the "Busan Agreement," from its original expiration in November to January 10, according to U.S. Treasury Secretary Scott Bessent.
- The extension follows an unscheduled meeting between Bessent and China's Vice Premier He Lifeng in Washington, with discussions also exploring the possibility of a larger economic package by January.
- Bessent noted some shortcomings on the Chinese side in meeting deliverables and emphasized the need for more thorough implementation of the agreement in the coming months.
- Additional announcements are expected soon, potentially including Chinese commitments to purchase more American agricultural products and deals in the financial services sector.
- The trade truce extension coincides with Chinese President Xi Jinping’s first U.S. visit in over a decade and is seen as a positive step toward economic stability between the two countries.
