US and China agree to extend trade truce for two months

US Treasury Secretary Scott Bessent said yesterday (Wednesday) that the United States and China have agreed to extend the trade truce, which was scheduled to expire on November 10, for two months, allowing more time to work toward a potentially broader trade deal. Bessent made these remarks on Fox News, hours after his second meeting in four days with Chinese Vice Premier He Lifeng, as part of preparations for a summit between US President Donald Trump and Chinese President Xi Jinping. The US minister said, “We met to see if we could reach a bigger deal rather than just a series of small items,” noting that the two-month extension of the trade truce, agreed upon in Busan, South Korea, in May, would give both sides “more time to see what we can do at the economic level.”