U.S. and China extend trade truce to Jan. 10 as Xi visits Washington

The U.S. and China have extended their trade truce for two months, keeping tariffs lower and rare earths flowing, U.S. Treasury Secretary Scott Bessent announced Wednesday as Chinese President Xi Jinping began a state visit to Washington. The deal, originally set to expire in November, will now run until Jan. 10, Bessent said on Fox News, adding that Beijing must fulfill more deliverables. The extension is shorter than the six months or more many had expected ahead of the summit. Bessent met Chinese Vice Premier He Lifeng in New York before Xi's arrival, where they discussed setting up an alert system for AI incidents. Chinese state media did not immediately note the trade truce comments, with footage focusing on Xi and First Lady Peng Liyuan receiving bouquets.