Key facts
- The US and China have extended their trade truce by two months.
- The extension provides more time for negotiations on trade issues.
- US Treasury Secretary Scott Bessent stated that Beijing is meeting its requirement to buy 25 million tons of soybeans but is lagging on its pledge to buy $17 billion in other agricultural goods.
- US officials have indicated that rare-earth deliveries are also falling short.
- Chinese President Xi Jinping urged the US to handle the Taiwan question with prudence and oppose Taiwan independence.
- President Trump described a pending arms package for Taiwan as a "negotiating chip" in May.
The United States and China have agreed to extend their trade truce by two months, a move that signals a temporary de-escalation in trade tensions. The extension, announced by US Treasury Secretary Scott Bessent, aims to provide more time for negotiations on trade issues, though significant disagreements persist. Beijing is reportedly meeting its soybean purchase requirements but is lagging on other agricultural goods and rare-earth deliveries. Chinese President Xi Jinping also pressed President Trump on the Taiwan issue, urging prudence and opposition to Taiwan independence, while Trump previously described a pending arms package for Taiwan as a "negotiating chip."