US, China reach new trade agreement
What's the story
The United States and China have reportedly reached a new trade agreement. The development was announced after Chinese President Xi Jinping's meeting with US President Donald Trump at the White House in Washington. The two countries have been working to stabilize their relations amid years of tariff disputes, export restrictions, and disagreements over technology and market access.
Trade agreement
President Xi calls it good news for global economy
President Xi described the latest round of economic and trade consultations as a "new joint arrangement."
He called it good news for businesses and people in both countries, as well as the global economy.
However, details of this new trade agreement are yet to be disclosed.
The announcement comes after US Treasury Secretary Scott Bessent revealed that Washington and Beijing have agreed to extend their existing trade truce until January 10, 2027.
Truce extension
Trump calls for continued dialogue to reach a better agreement
The extension of the trade truce, which was originally set to expire on November 10, gives both sides more time to negotiate unresolved economic issues.
President Trump said the latest talks had yielded new results and called for continued dialogue to reach a better agreement.
The two leaders also discussed other global issues such as artificial intelligence (AI), Taiwan, the Middle East, Ukraine war, and the Korean Peninsula.
Strategic dialogue
Xi urges US to oppose 'Taiwan independence'
AI emerged as a key area for potential dialogue between the two countries, despite their wider strategic competition.
President Xi urged Washington and Beijing to leverage their respective strengths instead of guarding against each other.
He called for continued discussions on AI risks and benefits, and cooperation to prevent its misuse.
On Taiwan, Xi urged the US to oppose "Taiwan independence" and handle the issue with caution for greater strategic cooperation between Washington and Beijing.