America prolongs China trade truce

The U.S. Department of the Treasury confirmed that Washington and Beijing have agreed to extend their trade truce for an additional two months, until January 10, after it was set to expire on November 10. This announcement followed discussions between Treasury Secretary Steven Mnuchin and Chinese Vice Premier He Lifenng during their visits to Washington and New York, coinciding with Chinese President Xi Jinping's arrival in the United States for a summit with U.S. President Donald Trump. The extension includes the Busan agreement, aimed at easing economic tensions. The previous pact involved reducing tariffs and some exemptions, with the possibility of lowering tariffs on goods valued at $30 billion. This move comes as part of joint efforts to address trade disagreements and promote economic cooperation between the two countries.

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