The U.S. and China extend moratorium on new tariffs
The United States and China have agreed to extend the temporary moratorium on the introduction of new trade tariffs until January 10, 2027.
This was announced on Fox News by U.S. Treasury Secretary Scott Bessent following a meeting with Vice Premier of the State Council of the People's Republic of China He Lifeng in Washington.
The previous agreements were set to expire on November 10. Now they have been extended for another two months. During this time, the parties intend to continue negotiations on a broader package of economic agreements or to decide on a further extension of the current terms.
The agreement was reached against the backdrop of Chinese President Xi Jinping's visit to Washington at the invitation of U.S. President Donald Trump. Earlier, trade tensions between the countries led to a sharp increase in mutual tariffs: Washington raised tariffs on Chinese goods to 145%, and Beijing responded with duties of up to 125%.
Among the key issues in the negotiations are supplies of rare earth metals, U.S. restrictions on exports to China of semiconductors and chips for artificial intelligence systems, China's purchases of American agricultural products, and security issues in the field of AI.
