China Says Extended US Trade Truce Opens Room to Advance Negotiations
China said the two-month extension of its trade truce with the US gives both sides space to review progress and plan next steps, as new working groups take shape.
China has confirmed that its trade truce with the United States will be extended by two months, through to January 10, saying the arrangement gives both sides room to assess how their economic and trade understanding is being implemented and to weigh how to move the talks forward.
The extension, announced by China's commerce ministry, was among the main outcomes of the second meeting this year between President Xi Jinping and US President Donald Trump, held in Washington last week. Beijing said the added time offers companies a comparatively stable and predictable policy setting in which to cooperate, and keeps discussions active.
Under a trade council the two sides have agreed to establish, an early item on the agenda will be a reciprocal reduction of tariffs on products worth $30 billion, a step the ministry said would help keep bilateral economic and trade ties on an even footing and improve conditions for Chinese exports to the US.
Economic and trade teams from both countries are to hold regular talks covering possible investment opportunities and obstacles, greater policy transparency and predictability, and responses to reasonable concerns raised by businesses.
An agriculture working group will also be set up under the trade council, with its first meeting scheduled before the end of the year to take up two-way market access and regulation of agricultural goods. Separately, the summit produced a coal trade agreement under which China will import US coal in 2027 and 2028. The ministry described such imports as a useful supplement to China's domestic coal market while providing steady income and employment for the US coal industry.
On artificial intelligence, the two sides agreed to set up a channel for communicating about incidents, with a follow-up dialogue to be held by the end of November. China will also review and approve foreign financial services institutions, including those backed by US capital, to conduct business and open branches in the country. The two sides will continue talks on adding flights between China and the United States.