China on Monday effectively extended its trade truce with the US by two months, after announcing it would continue to suspend certain trade measures.
The trade truce was due to expire on Tuesday, with Chinese President Xi Jinping and US President Donald Trump expected to meet, for the third time so far this year, at the APEC leaders’ summit in China next week.
After September’s Washington summit between Trump and Xi, both sides proposed a $60-billion package of reciprocal tariff cuts, including roughly $17 billion worth of US farm goods that China imported in 2024, though the plan has yet to be finalised.
US Treasury Secretary Scott Bessent in September said the two-month extension would give the two sides “more time to see what we can do on the economic front.”
