US and China Extend Trade Truce as Xi Arrives for Rare Washington Visit

Washington and Beijing have agreed to extend their trade truce by two months, US Treasury Secretary Scott Bessent announced, hours after Chinese leader Xi Jinping arrived in the United States capital for a rare state visit.

Bessent said the extension was agreed at a meeting with Chinese Vice Premier He Lifeng at the World Bank in Washington on Wednesday, pushing the deadline to January 10. The truce had been due to lapse in November, which means the arrangement now faces another deadline early next year.

Under the understanding, the two countries agreed to scale back tariffs and refrain from imposing new trade restrictions, Bessent said in an interview with the Fox News Channel. He said he did not know whether a larger agreement would follow, adding that the additional time could allow both sides to discuss outstanding issues at international summits in China in November and in Florida in December.

Bessent also indicated that further announcements could come during Xi's visit, possibly covering financial services and agricultural purchases. "There's quite a bit going on here," he said.

Trade has been among the sharpest points of friction between the world's two largest economies, alongside artificial intelligence, US policy towards Iran, and China's claims over Taiwan.

At a meeting in Busan, South Korea, in October, President Donald Trump and Xi rolled back restrictions on critical minerals and high-tech exports that had raised concerns about global supply chains. Both sides also paused triple-digit tariffs that were due to expire on November 10.

Xi's arrival at Joint Base Andrews, just outside Washington, was met with an elaborate welcome. A red carpet about 30 metres long was laid at the foot of the aircraft's staircase, flanked by a 21-member honour guard. Trump and First Lady Melania Trump stood near the plane and greeted Xi and his wife, Peng Liyuan, with handshakes.

The ceremony included a flyover by two B-1 bombers, platoons drawn from each military service, and the presentation of the national flags and anthems of both countries. Speaking to reporters after returning to the White House, Trump said of the Chinese side: "I think they appreciate it, tremendous people."

Xi's visit — his first to the United States in more than a decade — includes a meeting with Trump at the White House and a state dinner. So far the programme has been heavy on ceremony, with the trade truce extension the main concrete outcome announced.

Trump has publicly praised Xi, describing him as a "great leader" and speaking of a warm personal relationship. Officials on both sides have said the visit is intended to help maintain what they call strategic stability between the two countries.

In a written statement marking his arrival, Xi said Beijing and Washington "should be partners, not rivals," adding that "achieving the great rejuvenation of the Chinese nation and making America great again can go hand in hand, and the two countries can contribute to each other's success, thereby benefiting the wider world."

Significant differences remain between the two governments over tariffs, technology exports, Taiwan and regional security. The two-month extension of the truce leaves both sides facing another negotiating deadline in the first weeks of next year.