U.S. proposes three- to six-month extension of China trade truce

  • The U.S. proposed a three- to six-month extension of its China trade truce.
  • The current tariff arrangement expires Nov. 10 and caps duties near 20%.
  • Trump and Xi are scheduled to meet Sept. 24 after New York talks ended without agreement.

The U.S. is open to extending its trade truce with China by three to six months, but Sept. 20 preparatory talks in New York produced no agreement before the current arrangement expires on Nov. 10. U.S. Trade Representative Jamieson Greer said negotiations remain divided over China's supply of rare-earth elements, reciprocal tariff reductions and Chinese purchases of U.S. agricultural goods and Boeing aircraft. The truce, built through agreements between 2025 and 2026, caps tariffs at about 20% on both sides. President Donald Trump and Chinese President Xi Jinping are scheduled to meet Sept. 24, potentially providing political direction on an extension and unresolved trade issues. Negotiators have discussed tariff reductions on about $30 billion of nonsensitive goods, annual Chinese purchases of 25 million metric tons of U.S. soybeans and more than 200 Boeing aircraft. Earlier reporting said China had already met a soybean purchase target of 25 million metric tons through 2028, while the latest account describes the volume as an expected commitment.

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