Washington:The United States and China have agreed to extend their bilateral trade truce until January 10, according to Treasury Secretary Scott Bessent.

According to Anadolu Agency, the truce, initially set to expire in November, is part of the Busan Agreement, an economic detente aimed at easing trade tensions between the two nations.

Bessent noted in an interview with Fox News that there have been some shortcomings on China's part regarding the agreement. The US is now looking to see if China can fulfill more of its commitments in the coming months.

Additionally, Bessent suggested that further announcements might be forthcoming from the Chinese delegation, potentially including increased purchases of US agricultural products and new deals in the financial services sector. This announcement followed an unscheduled meeting between Bessent and Chinese Vice Premier He Lifeng in Washington earlier in the day.