U.S.-China trade truce would run to January 10, Bessent says

The U.S.-China trade truce extension would keep the arrangement in place until January 10, Treasury Secretary Scott Bessent said, extending its reported November 10 expiry by two months. Bessent’s statement, reported by CNBC after an appearance on Fox News, came as Chinese President Xi Jinping arrived in Washington for a state visit and an expected White House meeting with President Donald Trump.

The extension has not been announced jointly by Washington and Beijing. CNBC said Chinese state media had not immediately addressed Bessent’s remarks, leaving the reported new deadline dependent on the Treasury secretary’s account.

CNBC described the truce as an arrangement that has kept bilateral tariffs lower and supported the flow of rare earths. Reuters reported a day earlier that the pause had reduced tariff rates after reciprocal escalations had pushed them into triple digits, and that China had agreed under the truce to restore supplies of rare-earth magnets and other critical minerals.

Bessent said Beijing still needed to meet further commitments, according to CNBC. Reuters reported that U.S. officials had previously said deliveries of rare earths from China were below expectations.

When was the U.S.-China trade truce due to expire?

Before Bessent’s latest comments, the truce was due to expire on November 10, Reuters reported on September 23. At that point, Bessent said Washington was open either to an extension or to examining a wider trade agreement, after Chinese officials raised the possibility of a larger deal.

Neither the scope nor the terms of any broader agreement were specified in the reporting. The available accounts also do not establish whether any new tariff changes or other summit agreements were reached.

What have U.S. and Chinese officials been discussing?

Bessent, Chinese Vice Premier He Lifeng and U.S. Trade Representative Jamieson Greer held preparatory talks before the leaders’ meeting. Reuters reported that the discussions covered trade and artificial intelligence, while CNBC said Bessent had described talks with He on an alert system for AI incidents.

The tariff pause follows an earlier process established in May 2025. In a joint U.S.-China statement, both governments said they would suspend 24 percentage points of specified additional duties for an initial 90 days, while retaining a 10% rate on covered goods. That statement also created a channel for continuing economic and trade talks, led on the U.S. side by Bessent and Greer and on China’s side by He.

Xi’s visit supplies the diplomatic setting for Bessent’s reported extension, but Chinese confirmation of the January 10 date was not included in the available reporting.

This story draws on original reporting from CNBC.