US, China Extend Trade Truce to January 10

U.S. Treasury Secretary Scott Bessent announced on September 23 that the U.S. and China have agreed to extend their trade truce by two months, until January 10, 2027, pausing further tariff escalation. The extension modifies the "Busan Agreement" reached by Presidents Trump and Xi in October 2025, which was set to expire November 10. Bessent noted the shorter-than-expected extension allows more time to address China's incomplete implementation, including roughly $17 billion in delayed agricultural purchases. The announcement comes ahead of a White House summit between the two leaders on September 24. Bessent also discussed potential bilateral trade committee talks, tariff rollbacks, and a proposed hotline for AI-related incidents.