U.S. and China officially extend trade truce by two months

The two countries said they would maintain tariff reductions and a pause on other trade actions until January 10, 2027, cementing a pact first announced in September.

According to official documentation from both countries, the United States and China will extend by two months a pause on trade actions that were meant to go into effect Tuesday (November 10, 2026), as part of an agreement the countries reached in September.

The U.S. side

The U.S. will maintain reduced tariffs on imports from China as part of the extension. Under the original trade truce, reached last November, the U.S. agreed to cut tariffs related to fentanyl trafficking on imports from China to 10%, down from 20%, while suspending responsive actions from a Section 301 investigation into China's maritime and logistics industries, such as fees on China-linked ships calling at U.S. ports. Several trade groups and shipping associations are urging U.S. Trade Representative Jamieson Greer to permanently remove the fees.

Those actions were meant to expire Tuesday, but will now stay in place until January 10, 2027, per a to-be-published Federal Register filing from the Office of the U.S. Trade Representative. In a separate filing, the U.S. said it would also extend 178 current Section 301 tariff exclusions for goods from China.

The China side

China's Ministry of Finance said in a statement Monday that a 24% tariff on U.S. goods meant to go into effect Tuesday will remain suspended for another two months. However, China will still charge a 10% additional levy, per the statement. A Ministry of Commerce spokesperson said China is also continuing to pause certain export controls.

In its statement, China's Ministry of Finance said it would monitor subsequent actions from the U.S. and adjust its countermeasures as appropriate.

Background

U.S. Treasury Secretary Scott Bessent first announced the extension in a September interview with Fox News. Bessent made the announcement a week after meeting with Chinese Vice Premier He Lifeng and just ahead of a meeting between U.S. President Donald Trump and Chinese President Xi Jinping. At the time, the secretary said the trade truce would stay in effect until January 10, 2027.

U.S. Trade Representative Greer met with Vice Premier He Lifeng on Friday via video conference, per a press release. During the call, Greer pushed China to take concrete steps to implement commitments, specifically those on agricultural purchases, rare earths and other critical minerals, according to the release. There was no mention of the trade truce or an extension in the statement.

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Source: Phaata.com 

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Reference source: Supply Chain Dive  https://www.supplychaindive.com/news/us-china-officially-extend-trade-war-truce-by-2-months/874107/