US and China Extend Bilateral Trade Truce Known as Busan Agreement Until January

US Treasury Secretary Scott Bessent announced that a bilateral trade truce between the US and China has been extended until January as part of their agreement known as the 'Busan agreement'. The extension is seen as a positive development for trade relations between the two countries. Details of the agreement have not been disclosed, but officials confirm it includes an ongoing truce on non-tariff barriers to trade.