Washington – In a clear signal of confidence in President Trump’s trade strategy, Treasury Secretary Scott Bessent told reporters on Wednesday that the United States is prepared to extend the US‑China trade truce that expires on Nov. 10, and is also open to negotiating a larger, more comprehensive deal.
Extension of the Busan truce
Bessent made the remarks after meeting Chinese Vice Premier He Lifeng in Washington. He said the Chinese side raised the idea of a bigger agreement on Sunday, and that the administration is “fine with both” extending the existing arrangement or examining a broader pact. He emphasized that any decision will be made “what’s best for the American people,” echoing President Trump’s focus on protecting families and jobs.
Strategic stability and reciprocity
Earlier in the week, Bessent described the meeting at the World Bank headquarters as a chance to clear up “unfinished business” ahead of the upcoming Trump‑Xi summit. He reiterated that the Trump administration seeks strategic stability based on “reciprocity and fairness,” a principle that aligns with the Constitution’s guarantee of a free and fair market for American producers.
AI safety hotline and future cooperation
The three‑way talks – involving Bessent, He and U.S. Trade Representative Jamieson Greer – also produced a tentative plan for an AI‑safety communications hotline. While China’s state news agency Xinhua confirmed only that AI was discussed, the proposed hotline would allow rapid notification of any AI‑related incidents, a step toward responsible innovation that protects American technological leadership.
Analysts note that confidence in AI cooperation remains low due to mutual distrust, but President Trump has already stated he will not “stifle” AI growth and intends to keep the United States ahead of China in what he calls “super intelligence.”
Critical minerals and tariff reductions
The trade truce, first struck in Busan, South Korea, dramatically lowered bilateral tariffs that had surged to triple‑digit levels after President Trump’s 2024 tariff hikes. Under the truce, China agreed to restore shipments of rare‑earth magnets and other critical minerals that are essential to American defense and clean‑energy industries. However, Greer told Bloomberg TV that recent Chinese deliveries have “not been up to par,” and the United States will continue to press for full compliance.
Both sides also revisited discussions from the May meeting in Beijing, including potential cuts to tariffs on non‑strategic consumer goods and Chinese purchases of Boeing aircraft and U.S. agricultural products. Greer described a process called the “Board of Trade” that could identify further tariff reductions for items such as consumer goods, low‑tech products, energy, agricultural goods, and medical devices.
Looking ahead to the Trump‑Xi summit
The upcoming summit at the White House on Thursday will give President Trump and President Xi Jinping a chance to solidify these efforts. Bessent’s comments suggest that extending the Busan truce and possibly expanding the agreement are on the agenda, reinforcing the administration’s commitment to a fair, reciprocal trade relationship that benefits American workers and families.
As the deadline approaches, the administration’s willingness to negotiate and its focus on strategic stability signal a proactive approach to foreign trade that aligns with the nation’s constitutional principles and the values of traditional families across the country.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
