Economy
US and China Extend Trade Truce Until January 10
US Treasury Secretary Scott Bessent announced that the United States and China have agreed to extend their trade truce by two months until January 10. This extension follows discussions between Bessent and Chinese Vice Premier He Lifeng regarding a broader trade agreement, though uncertainty remains about reaching a larger deal by the deadline. The original truce was established during a summit between President Donald Trump and Chinese leader Xi Jinping in Busan, South Korea, which suspended certain tariffs and restrictions. Meanwhile, tensions with Canada persist; although Trump temporarily suspended a planned 50% tariff on Canadian goods for three days after speaking with Prime Minister Mark Carney, new measures banning imports of specific alcoholic beverages, vehicles, and dairy products are set to take effect in late September. Additionally, Trump announced the removal of import duties on Irish whiskey following requests from various parties.
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