Trump and Xi Meet in Washington as Trade Truce Extended

President Trump hosted Chinese President Xi Jinping at the White House on Thursday for a state visit, hours after Washington announced a two-month extension of their trade truce until January 10. The extension preserves lower tariffs and Chinese rare earth supplies while negotiators pursue a broader deal. The truce, initially set to expire November 10, was confirmed by Treasury Secretary Scott Bessent after talks with Chinese Vice Premier He Lifeng. It maintains reduced bilateral tariffs and suspends Beijing's export restrictions on rare earths and critical minerals. Xi's visit is his first to Washington since 2015, following Trump's May trip to Beijing. Artificial intelligence dominated the leaders' opening remarks, with Xi emphasizing shared responsibility for human control over AI development. Chinese stocks fell Thursday on the shorter-than-expected extension, while Wall Street traded lower with the 10-year Treasury yield near 5.10%. Bessent noted China is behind on a $17 billion agricultural purchase pledge.