Daily newsletter · Sat 26 Sep 2026
Trump and Xi met for three days and moved the deadline to January
Xi Jinping's state visit to Washington ended on Friday. The most concrete result came before the formal meeting. The trade truce agreed in Busan last October, due to expire on 10 November, now runs to 10 January 2027.
What does the truce hold in place? Lower tariffs on Chinese goods, China's pause on rare-earth export controls, and a hold on higher port fees for ships. Treasury Secretary Scott Bessent announced the extension as Xi arrived, and said the two sides could reach a larger economic package by January.
Beyond that, the list is short. Trade Representative Jamieson Greer said the countries would open an AI dialogue, with a first meeting within a month. They are also drawing up a "Board of Trade", lists of goods that get lower tariffs on both sides.
China agreed to keep buying American soybeans under the existing truce. There was no new aircraft order. China confirmed 200 Boeing jets after Trump's visit to Beijing in May, and that deal has since snagged on engine parts and servicing.
The two leaders meet again at APEC in Shenzhen in November. Trump has an invitation to Beijing in May 2027.
the truce now outlasts the US midterms on 3 November, which takes one risk off the table for importers. China is the largest export market for both New Zealand and Australia, so a quiet January suits readers here as much as anyone.
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