US and China Extend Busan Agreement to January 10, Bessent Says

U.S. Treasury Secretary Scott Bessent announced Wednesday that the United States and China have agreed to extend the "Busan Agreement" until January 10, following his meeting with Chinese Vice Premier He Lifeng ahead of President Xi Jinping's state visit to Washington. Bessent stated on Fox News' "Special Report" that the two sides met to explore a larger deal rather than a series of smaller measures, and confirmed the extension of the agreement, which will now remain in effect until January 10. The extension comes as part of ongoing high-level economic talks between the two nations, with Bessent's remarks highlighting continued bilateral engagement on trade and financial issues during Xi's visit this week.