US Treasury Secretary Bessent: US–China Trade Truce Can Be Extended, but Washington Not Rushing November Deadline
- US and China will initially identify $30 billion of non-critical goods that could face reduced or no tariffs under a Board of Trade protocol
- US–China consultations on AI guardrails to prevent proliferation of powerful models likely to begin in the next four to eight weeks
- Meeting planned with Chinese Vice Premier He Lifeng before Xi’s September White House visit to work through more trade details
- China understands Section 301 investigations could bring U.S. tariffs back to levels seen before the Supreme Court decision annulling some duties
- New Section 301 tariffs will not be a problem for China as long as they do not exceed levels agreed last November
- US–China Board of Investment protocol will seek to identify deals that avoid CFIUS reviews, or investments the U.S. is not ready to consider
- US–China truce on critical minerals and tariff rates can be extended through further meetings this year
- Trump administration is not in a hurry to extend the China trade truce due to expire in November