US and China to Extend Trade De-escalation Arrangements Through January, Treasury Secretary Says
US Treasury Secretary Scott Bessent says the Busan Agreement's trade de-escalation measures between Washington and Beijing will remain in force through January 10.
The United States and China will extend their current trade de-escalation arrangements, keeping the Busan Agreement in force through January 10 of next year, according to a report from TASS citing US Treasury Secretary Scott Bessent.
The extension signals continued efforts by both countries to manage trade tensions and avoid a renewed escalation of tariffs or other economic measures, at least in the near term.
Continued Economic Dialogue
Bessent's comments point to an ongoing, if cautious, effort by Washington and Beijing to stabilize their economic relationship. The Busan Agreement has served as a framework for de-escalating trade friction between the two countries, and its extension suggests both sides see value in maintaining the current arrangement for now.
Further details on the specific terms of the extension, or on what discussions may follow before the January deadline, were not included in the initial report.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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