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Washington and Beijing agree on temporary ceasefire
China has extended the trade suspension with the United States by two months, until January 10, in an effort to promote economic and trade cooperation between the two sides. This extension comes after a summit between Chinese President Xi Jinping and his American counterpart Donald Trump, and aims to provide a stable environment for discussions on reducing tariffs on $30 billion worth of goods, especially in the agricultural sector, to meet China's commitment to purchase $17 billion worth of American agricultural products. An agricultural task force has also been agreed upon to facilitate market entry and regulation of products, along with the resumption of American coal imports, the study of opening branches for foreign financial institutions within China, and enhanced cooperation in artificial intelligence and flight exchanges. All of these measures aim to support the trade and economic relations between the two countries.
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