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, stating it provides more time to address economic issues. He also mentioned China's interest in collaborating on artificial intelligence, with Washington seeking to define key risk factors regarding AI agents and non-state actors. Bessent additionally discussed Iran, predicting its financial isolation will lead to surrender within weeks or months. He outlined three possible conflict endings, including regime infighting, a popular uprising, or a negotiated settlement, while noting sanctions have canceled most Iranian international flights.