Team Trump Declares a Trade Agreement with China As Xi Starts His Unusual Visit to the US

Shortly after Chinese leader Xi Jinping arrived in Washington for a three-day visit, US President Donald Trump’s Treasury Secretary Scott Bessent declared that Washington and Beijing have decided to extend their trade truce. However, the two-month extension of the truce, which was originally scheduled to expire in November, has created a new deadline for early next year.

As Trump welcomed Xi at Joint Base Andrews, just outside of Washington, in a rare plane greeting, Bessent stated in a Fox News Channel interview that the two nations had agreed to reduce tariffs and refrain from enacting additional trade restrictions.

“I’m not sure if a larger deal can be reached. Bessent stated, “I don’t know whether we will just roll the current arrangement,” pointing out that the delay until January 10 would allow both countries more time to address their concerns at next international conferences in Florida in December and China in November.

According to Bessent, he and Vise Premier He Lifeng of China met earlier on Wednesday at the World Bank in Washington and decided to prolong the ceasefire. Additionally, the Treasury Secretary hinted at other announcements following Xi’s visit. “We’re going to see probably some announcements of maybe financial services, agriculture purchases,” he said. “There’s quite a bit going on here.”

Aside from artificial intelligence, Trump’s war with Iran, and China’s plans for Taiwan, trade is one of the main causes of contention between Washington and Beijing. During a summit in Busan, South Korea, in October of last year, Trump and Xi relaxed export restrictions on vital minerals and high-tech products that had threatened to disrupt global supply networks.

Both parties prolonged a halt to their triple-digit tariffs, which were scheduled to expire on November 10, as part of the temporary agreement. Xi is scheduled to meet Trump at the White House and then attend a state dinner during his two-day visit to Washington. This is Xi’s first trip to the United States in more than ten years.

Starting with Trump’s choice to welcome Xi as he arrived instead of waiting for him to drive up to the White House, it is anticipated to be much more about show than substance.

At the base of the stairway at Xi’s plane entrance, a red carpet stretched 100 feet (30 meters) in length. Trump and First Lady Melania Trump stood beside a stairway on the side of the aircraft and shook hands with Xi and his wife, Peng Liyuan, as a 21-person honor guard was arranged on the carpet’s sides.

Beyond using the visit to try to keep “strategic stability” between the two countries, Trump has lavished praise on Xi as a “great leader” and described a warm relationship with the man he has called a friend. That is all while he has given Xi a pass on many issues.

Meanwhile, in his statement marking his arrival in the US, China’s leader wrote that Beijing and Washington “should be partners, not rivals. Achieving the great rejuvenation of the Chinese nation and making America great again can go hand in hand, and the two countries can contribute to each other’s success, thereby benefiting the wider world.”

A flyover by two B-1 bombers, platoons from each military branch, and a display of both nations’ flags and songs were all part of the welcome celebration. “I think they appreciate it, tremendous people,” Trump told reporters after he returned to the White House.