US and China Extend Trade Truce to January 10

The United States and China have agreed to extend their bilateral trade truce until January 10, according to US Treasury Secretary Scott Bessent's announcement on Wednesday. The extension applies to the so-called Busan agreement, which was set to expire on November 10. Bessent stated that some Chinese commitments have not been fully met, and Washington wants to see more complete implementation in the coming months. He hinted at potential upcoming announcements from the Chinese delegation regarding increased purchases of American agricultural products and possible financial services agreements. The announcement follows an unscheduled meeting Wednesday in Washington between Bessent and Chinese Vice Premier He Lifeng.