US, China Extend Trade Truce Through January 10, Bessent Says
"We will extend what we call the Busan Agreement -- the economic detente between the two countries that was scheduled to end on Nov. 10. That is going to be extended until Jan. 10," Bessent said in an interview with Fox News.
He acknowledged friction points remain in implementation. "There are some deliverables that have not been perfect on the Chinese side, so we also want to see -- now that we've sat down and told them our expectations -- if over the coming months, they could be a bit more fulsome in enacting the agreement," he added.
Bessent signaled that additional announcements from the Chinese delegation could follow in the coming days, potentially including commitments to purchase more US agricultural goods and new deals in the financial services sector.
The extension was announced after Bessent and Chinese Vice Premier He Lifeng held an unscheduled meeting earlier Wednesday in Washington.
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