U.S. and China extend trade truce until January 10
U.S. Treasury Secretary Scott Bessent said the United States and China agreed to extend their Busan trade truce by two months, from its scheduled November 10 expiry until January 10, 2027. The extension keeps tariff and trade-restriction relief in place while the sides continue economic discussions; Chinese officials had not officially confirmed the extension in reports published shortly after the announcement.
Key points
- Bessent announced a two-month extension of the trade truce, through January 10, 2027.
Evidence · 3 source statements
Washington and Beijing agreed to extend the arrangements aimed at easing trade tensions through January 10 next year, US Treasury Secretary Scott Bessent said.
- The truce involves scaling back tariffs and avoiding new trade restrictions, with commitments also covering rare-earth and high-technology exports.
Evidence · 2 source statements
Under it, the two superpowers agreed to scale back tariffs and refrain from imposing new trade restrictions
- The short extension leaves further negotiations open: Bessent said he was unsure whether a larger deal could be reached, and said the extra time would allow more economic discussions.
Evidence · 3 source statements
I don't know whether a bigger deal can be done.
Who's involved
Scott Bessent
U.S. Treasury secretary and the official who announced the extension.
He said the extension would give the two countries more time to pursue economic measures, while asserting that China was behind on some commitments and expressing uncertainty about whether a larger deal was possible.
What they said · 4 source statements
I don't know whether a bigger deal can be done.
China
A party to the trade truce and to the disputes over trade and export controls.
China says its rare-earth export controls are intended to prevent the materials from being used for military purposes and criticizes U.S. controls on semiconductors and AI-related chips.
What they said · 2 source statements
United States
A party to the trade truce and the government that announced the extension.
The United States accuses China of deliberately withholding certain raw materials.
What they said · 1 source statement
Where accounts differ
The purpose and effect of trade-related export controls
- The United States accuses China of deliberately withholding certain raw materials.
Evidence · 1 source statement
- China says its rare-earth export controls are intended to prevent military use.
Evidence · 1 source statement
The two governments describe China’s controls differently: the U.S. account presents them as withholding, while China’s stated rationale is preventing military use.
What was reported
- Bessent said the extension runs from the truce’s scheduled November 10 expiry to January 10, 2027.
One source: Yonhap News Agency
Evidence · 2 source statements
- Bessent said he and Chinese Vice Premier He Lifeng met at the World Bank in Washington on September 23 and agreed to extend the truce.
Reported independently by 2: Clarín, NDTV
Evidence · 2 source statements
he and his Chinese counterpart, Vice Premier He Lifeng, met at the World Bank in Washington earlier Wednesday, where they agreed to extend the truce.
- Bessent described the truce as an arrangement to scale back tariffs and refrain from imposing new trade restrictions.
One source: NDTV
Evidence · 1 source statement
Under it, the two superpowers agreed to scale back tariffs and refrain from imposing new trade restrictions
- Bessent said China had not fully implemented some commitments and was behind schedule on about $17 billion in promised soybean and other agricultural purchases, according to the U.S. assessment.
One source: Yonhap News Agency
Evidence · 2 source statements
- Reports published shortly after Bessent’s announcement said Beijing had not officially confirmed the extension.
Reported independently by 3: Clarín, Der Spiegel, NPR
Evidence · 3 source statements
an announcement Beijing has not officially confirmed.
Still unclear
- Whether China later formally confirmed the extension.
- Whether the two countries will reach a longer-term trade agreement.
Not heard from
- Chinese government, including Vice Premier He Lifeng — He Lifeng took part in the talks, but the reports contain no direct Chinese official statement confirming or explaining the extension.