The administration of US President Donald Trump is in no rush to extend the trade truce with China regarding tariffs and critical minerals, which is set to expire in November. This was stated by US Treasury Secretary Scott Bessent, Reuters reports, according to UNN.
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According to Bessent, Washington has enough time to discuss a possible extension of the agreements during future meetings between the parties.
"I think we are in no rush to extend it. The situation is stable,"
Bessent also noted that China is fulfilling its obligations regarding the supply of critical minerals "satisfactorily, but not perfectly."
US and China avoid new escalation of trade war
The trade truce between the US and China was concluded in November 2025 following a sharp escalation of the tariff war between the world's two largest economies. At that time, new US duties on Chinese goods triggered a response from Beijing, with tariff levels reaching triple digits.
Under the agreements, additional US tariffs on Chinese products were reduced to approximately 20%, excluding the roughly 25% duties on a range of industrial goods introduced during Trump's first term.
Bessent also stated that agreements regarding China's purchase of 200 Boeing aircraft and the annual import of $17 billion worth of American agricultural products, which were agreed upon after the summit between Trump and Chinese President Xi Jinping, are being considered separately.