US not in a hurry to extend China trade truce, Treasury Secretary Bessent says
US Treasury Secretary Scott Bessent stated that the Trump administration is not in a hurry to extend the trade truce with China, which is set to expire in November. He emphasized the importance of establishing bilateral trade protocols and mentioned that China has been satisfactory in fulfilling its commitments regarding critical minerals. Upcoming meetings between US and Chinese leaders are expected to further discuss trade matters.
- ▪The US is not rushing to extend the China trade truce that ends in November 2025.
- ▪Scott Bessent believes China will accept the restoration of prior US tariff rates without increasing them.
- ▪The US-China trade deal reduced tariffs on Chinese goods to about 20 percent, down from higher rates during the trade war.
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US not in a hurry to extend China trade truce, Treasury Secretary Bessent saysSign up now: Get ST's newsletters delivered to your inboxUS Treasury Secretary Scott Bessent said he views the most important achievements as the establishment of bilateral managed trade, investment and AI protocols with Beijing.PHOTO: REUTERSPublished May 20, 2026, 01:38 PMUpdated May 20, 2026, 01:38 PMPARIS – The Trump administration is “not in a rush” to extend a tariff and critical minerals trade truce with China that ends in November, as there is time to renew it in meetings later in 2026, US Treasury Secretary Scott Bessent said on May 19.In his first interview since attending last week’s high-stakes summit with Chinese President Xi Jinping in Beijing, Mr Bessent said that he believes China will accept the…
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