US Treasury Secretary Extends U.S.-China Trade Deal to January 10

U.S. Treasury Secretary Scott Bessent announced the extension of trade agreements with China aimed at easing tensions, extending the arrangement until January 10. The extension applies to the agreement reached in Busan, originally set to expire November 10. Bessent stated the U.S. is open to either extending this deal or working toward a broader agreement, choosing whichever option is "better for the American people." The Busan agreement, signed October 30 following a Trump-Xi meeting, included partial tariff reductions, a pause on mutual tariffs, and removal of some trade restrictions. Bessent previously called U.S.-China talks highly successful, covering trade and artificial intelligence.