Trump: Trade Truce with China Close to Extending
US President Donald Trump announced on Tuesday (August 26) that the United States and China are close to extending their trade truce. This agreement has previously helped defuse tensions, halting tariff escalations, and relaxing export policies for technology and rare earths.
Trump also stated that he is willing to meet with Chinese President Xi Jinping before the end of the year, if a deal is reached. The meeting is expected to be a crucial step in maintaining global economic stability and avoiding further trade tensions.
The truce agreement is currently set to expire on August 12. If it is not extended, US tariffs on Chinese goods could again spike to triple digits, potentially disrupting global supply chains.
Last week, US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held their third round of talks in three months in Stockholm. This progress raises hopes that the two countries can reach an agreement before the deadline. (ayu)
Source: Newsmaker.id