US and China Extend Trade Truce by Two Months, Hold First AI Talks

U.S. Treasury Secretary Scott Bessent announced on September 23 that the U.S. and China have agreed to extend their trade truce for two months, until January 10, instead of the previously expected one-year renewal. The extension was agreed during talks with Chinese Vice Premier He Lifeng in Washington, ahead of a summit between Presidents Trump and Xi. Bessent noted China's $17 billion agricultural purchase commitments are behind schedule, while expressing confidence China will accept a proposed AI safety hotline. China's Commerce Ministry confirmed the talks were constructive, covering tariff reductions and trade committees, and noted this marked the first AI discussion under the bilateral economic framework.