US and China extend Busan truce to January 10 2027
Business
The US and China just agreed to keep their trade truce going under the Busan Agreement until January 10, 2027.
Announced after a meeting between top officials from both countries, this move is meant to help keep global supply chains steady, especially for tech and manufacturing, which are pretty crucial right now.
US cut tariffs, China resumed soybeans
The Busan Agreement first kicked off in 2025 to cool down rising tariffs.
The US lowered tariffs on Chinese goods, while China started buying American soybeans again and paused new rare-earth export restrictions.
While this extension aims to smooth out issues like agriculture and non-tariff barriers, bigger disagreements over tech rules and industrial policies are still hanging around, so more talks are likely down the road.