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US-China extend trade truce through January 10

Treasury Secretary Scott Bessent said the agreement, due to end Nov. 10, will run until Jan. 10 and could be part of a larger package.

Reported · Written up by our desk · Major Pairs

FXStreet reports that U.S. Treasury Secretary Scott Bessent said the United States and China have agreed to extend their bilateral trade truce, originally set to expire in November, through January 10.

Bessent said the deal, known as the Busan Agreement, was scheduled to end on Nov. 10 but will now be extended until Jan. 10, following an unscheduled meeting in Washington with China Vice Premier He Lifeng.

He added that a larger economic package could be agreed by January, or the two sides could simply roll the current agreement forward further.

The briefing also notes that the broader U.S.-China trade conflict began in 2018 and has involved tariff actions on both sides, including after the Phase One deal in January 2020 and subsequent policy moves after the 2025 change in U.S. leadership.

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