[UPDATE] Bessent says U.S. and China extended their trade truce two months to Jan. 10, 2027

Officials are discussing lower import taxes on Chinese consumer goods and U.S. agricultural and energy exports; those cuts are not agreed.

Treasury Secretary Scott Bessent said Wednesday, Sept. 23, 2026, that the United States and China extended their trade truce by two months, from Nov. 10, 2026, to Jan. 10, 2027. He announced the agreement after meeting Chinese Vice Premier He Lifeng in Washington. The extension gives negotiators more time to pursue a broader economic deal. Reuters What next. Bessent said the countries could reach a larger agreement or extend the existing one again: “I don’t know whether a bigger deal can be done.” Bloomberg

PREVIOUSLY

In October 2025, Donald Trump and Xi Jinping reached the original trade truce in Busan, South Korea. By Sept. 21, 2026, U.S. and Chinese officials had opened New York talks on trade, artificial intelligence and critical minerals (materials needed for products such as electric-car motors and military equipment). The talks preceded a planned White House summit on Sept. 24, 2026.

ContextChina’s pause in expanded mineral export controls (rules restricting sales abroad) expires Nov. 10, 2026. Those restrictions return unless Beijing renews the pause. Separate rules introduced in April 2025 remain in force: China must approve exports of materials used in electric-car motors and military equipment despite the broader truce. Electrical machinery and equipment accounted for 29.8% of U.S. imports from China; machinery, including computers, accounted for 26.8%; and furniture, bedding, and toys accounted for 15.3% (U.S. Census Bureau, BEA end-use estimates). BASELINE FACTS FROM PUBLIC DATA Partner country: China. Total bilateral trade: U.S.–China trade includes goods moving in both directions — U.S. Census Bureau Foreign Trade Division. Top sectors as shares of U.S. imports from China: Electrical machinery and equipment (29.8%), Machinery (incl. computers) (26.8%), Furniture, bedding, and toys (15.3%). Source: U.S. Census Bureau, BEA end-use estimates.