US and China Extend Tariff Truce to January 2027

The United States and China have agreed to extend their tariff truce, known as the 'Busan agreement,' until January 10, 2027, according to US Treasury Secretary Scott Bessent. The deal was originally set to expire on November 10. Bessent announced the extension in a Fox News interview, saying it provides more time to address economic issues. He also mentioned a mutual notification mechanism on artificial intelligence proposed to China, noting Beijing's interest in collaboration despite Washington's perceived lead in the field. Bessent separately discussed Iran, predicting its financial isolation will force a surrender within weeks or months. He outlined three possible conflict endings, including regime infighting, a popular uprising, or a credible agreement, while noting sanctions have canceled most Iranian international flights.