US and China Reach Trade Deal to Ease Tensions Within Two Months

U.S. Treasury Secretary Scott Bessent said the U.S. and China have reached a trade agreement that will reduce tensions between the two sides within two months. Bessent stated on September 23 that the deal, reached in Busan, will lower economic tensions by October 10 or 11, giving both sides time to assess implementation. This follows a meeting between Chinese President Xi Jinping and President Donald Trump at the APEC summit in South Korea. The announcement comes after months of escalating tariffs, with Washington imposing duties on Chinese goods. Bessent noted China is fulfilling commitments to buy 25 million tons of U.S. crude oil and 17 billion USD of agricultural products, though he acknowledged the deal may not be finalized before October 10.