US and China Agree to Extend Trade Truce Agreement for Two Months

The United States and China have agreed to extend their trade truce agreement for two months, until January 10 of next year. U.S. Treasury Secretary Scott Basset stated in an interview that the agreement was initially reached last year in South Korea, aiming to suspend certain tariffs and other restrictions imposed by the U.S. on China, while China committed to stabilizing its supply of products such as automobiles, semiconductors, aircraft, power tools, and rare earth minerals to the U.S. Basset pointed out that this extension will provide both sides with more time to explore cooperative measures in the economic sector.

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