Bessent: US and China Agree to Extend Trade Truce by Two Months

Odaily News: US Treasury Secretary Scott Bessent, who presided over this week's trade negotiations with China, said in an interview with Fox News that the US and China have agreed to extend the trade truce agreement by two months beyond its November expiration.

The truce was reached last year in South Korea. Before that, President Trump imposed high tariffs on Chinese exports, and the two countries became locked in a tit-for-tat trade war. The truce included: the US pausing some tariffs and other restrictions on China's economy, while China agreed to stabilize supplies of rare earth minerals needed for American cars, semiconductors, aircraft, power tools, and other products.

Bessent said the agreement will be extended to January 10 next year, "giving us more time to explore what measures can be taken in the economic sphere."