Key facts
- President Trump and Chinese President Xi Jinping extended a trade truce until January.
- The extension avoids a potential return to high tariffs and export controls on critical minerals and semiconductors.
- The initial truce was agreed upon in October in Busan, South Korea.
- The current truce was set to expire on November 10, just after the U.S. midterm elections.
President Donald Trump and Chinese President Xi Jinping have agreed to extend a fragile trade truce, a move designed to prevent economic disruption in the weeks leading up to the U.S. midterm elections. The extension pushes the deadline to January, providing more time for negotiations on critical issues such as trade, technology, and China's control over critical minerals.