The US and China have agreed to extend their bilateral trade truce, known as the "Busan agreement," until January 10, 2027. "Today, we agreed to extend the so-called Busan agreement between the two countries, which was due to expire on November 10, until January 10, to give us more time to assess our opportunities in the economic sphere," US Treasury Secretary Scott Bessent said in an interview with Fox News. The Busan agreement was reached by US President Donald Trump and Chinese President Xi Jinping in October 2025.
According to the information, it represents a truce in the trade war aimed at easing economic tensions between the two countries. In April 2025, Washington raised tariffs on Chinese goods to 145%, while Beijing responded by increasing tariffs on US imports to 125%. In June, the two sides reached a truce and agreed to lower the tariff rates.
On August 11, Trump signed an executive order extending the reduced tariffs on Chinese goods until November 10. The announcement of the extension of the trade truce comes amid Chinese President Xi Jinping’s state visit to the United States. Xi arrived in the US on September 23, with his main talks with US President Donald Trump scheduled for September 24 in Washington.
This is Xi Jinping’s first state visit to the United States in 11 years. Image Here we are to serve you with news right now. It does not cost much, but worth your attention.
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