China and U.S. extend tariff truce and schedule new trade talks

U.S. and Chinese trade officials plan to meet again in the coming months to discuss their economic relationship, as the two countries extended a tariff truce for 90 days.

Treasury Secretary Scott Bessent announced on Tuesday that U.S. trade representatives will reconvene with their Chinese counterparts within the next two to three months to discuss the future of bilateral economic ties. This follows the recent extension of a 90-day tariff truce, preventing the implementation of higher tariffs on goods traded between the two nations.

In an interview Bessent also said Chinese President Xi Jinping had invited Trump to a meeting. 

"There's no date," Bessent said. "The president hasn't accepted yet."

Earlier, Trump expressed optimism about reaching a trade deal and suggested a meeting with Xi could happen before the year’s end if an agreement is finalised.

Despite progress in talks, Bessent emphasized the need for sustained efforts spanning months or longer to curb fentanyl precursor flows from China before the U.S. will consider lowering tariffs.

The U.S. accuses China of not adequately addressing the fentanyl crisis, which has fueled overdose deaths, while China denies these allegations and accuses the U.S. of using the issue for leverage.

Since February, the U.S. has maintained tariffs on Chinese imports related to these concerns, alongside a base tariff increase imposed earlier.

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