US-China Trade Truce Extended Amid Ongoing Disputes

US and China are on the verge of extending their trade-war truce for another year. According to reports, both sides have agreed to preserve the framework of their existing agreement, avoiding fresh clashes in the process.

The Chinese government is also considering including leading business executives in President Xi Jinping's delegation during his upcoming visit to the US. This move would underscore efforts by Washington and Beijing to manage their ongoing disputes over advanced technology and trade.

Last year's Busan agreement saw the US lower some tariffs on Chinese goods, while China suspended rare-earth export controls for one year. The two sides also agreed to cooperate on purchases of US soybeans and controls on fentanyl precursor materials.

However, a central issue at next month's summit is likely to be the length of the extension. While China prefers a longer renewal that would keep the current deal in place through the end of Trump's term, the US wants another one-year extension.