The US is considering extending the trade agreement with China

The US is considering extending its trade agreement with China. This was stated by US Treasury Secretary Scott Bessent following a meeting with Chinese Vice Premier He Lifeng.

The current agreement is set to expire on November 10. The matter will be discussed by Donald Trump and Xi Jinping at a planned meeting at the White House. Bessent did not specify the terms of a possible new agreement, though he noted that both options are acceptable to Washington.

The existing agreement reduced tariffs between the two countries. Previously, retaliatory measures had pushed some duties to triple-digit levels. China also agreed to resume supplies of critical minerals and rare earth metals, though the US believes this process is moving too slowly.

Other issues under negotiation include reducing tariffs on less strategic goods, China's purchase of Boeing aircraft and American agricultural products, and the establishment of a communication channel related to AI safety.

Source: Reuters