US, China to extend trade de-escalation arrangements — US Treasury secretary

US, China to extend trade de-escalation arrangements — US Treasury secretary According to Scott Bessent, the extension of the Busan Agreement will remain in force through January 10 next year US Treasury Secretary Scott Bessent© Valery Sharifulin/TASSNEW YORK, September 24. /TASS/. Washington and Beijing agreed to extend the arrangements aimed at easing trade tensions through January 10 next year, US Treasury Secretary Scott Bessent said. "We met today to see if we do a bigger deal as opposed to just a series of smaller things. We have agreed today that we will extend what we call the Busan Agreement," he said in an interview with Fox News. The US and Chinese sides agreed to partially reduce tariffs, extend the suspension of reciprocal tariffs and lift a number of trade and economic restrictions at the meeting of their leaders in Busan, a city in South Korea, on October 30 last year. 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