US and China Extend Trade Truce as Xi Jinping Visits Washington

Treasury Secretary Scott Bessent says Washington and Beijing have agreed to extend their 11-month trade truce through Jan. 10. It had been due to expire on Nov. 10. The deal came as President Donald Trump personally greeted Chinese President Xi Jinping at Joint Base Andrews in Maryland on Wednesday. It was Xi’s first US trip in nearly three years, and the first time in 11 years that a US president has met a foreign leader there. Xi’s statement said the two nations should be partners, not rivals, but did not mention a trade deal.

Trump-Xi Summit Agenda

The three-day visit covers trade, technology, Taiwan and Iran. Talks on Thursday could bring sector-specific tariff cuts, drug trafficking cooperation, more military dialogue and talks on AI. Trump is expected to seek the release of Americans detained in China. Xi is likely to raise Taiwan, while Trump is expected to hold firm on export controls.

Deep Divides Remain Between the Two Powers

The countries still clash over rare earth and chip export controls, China’s ties with Iran and US support for Taiwan. Trump faces public anger over the nearly seven-month war with Iran and higher energy prices. Xi faces weak household spending and a property slump. Analyst Edgard Kagan said Trump expects US strength to grow, while Xi believes time favors China.

A state dinner on Thursday is expected to include Tim Cook, Jensen Huang and Sam Altman. The leaders may meet again at the APEC summit in China in November or the G20 in the US in December.