China extends trade truce with United States
China confirmed a two-month extension of a trade truce with the United States through January 10, saying it gives room to evaluate implementation and create a stable policy environment for companies. The extension came after a presidential summit and includes plans to form a trade council to discuss a reciprocal tariff cut on $30 billion of products and to set up an agriculture working group. The White House list showed proposed tariff cuts focused on corn, wheat, dairy and meat but not soybeans, while China also agreed to import 10 million metric tons of US coal in 2027-28 and to open dialogue on AI, financial firms and flights.
China extended the trade truce with the United States to January 10.
Context
Leaders met at a recent summit and agreed the truce extension. Both sides will form a trade council and hold regular talks. They may now negotiate tariff cuts and sectoral working groups.
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