The United States and China have agreed to keep the Busan Agreement in force through 10 January, Treasury Secretary Scott Bessent said on Wednesday after talks with Chinese Vice Premier He Lifeng in Washington.
The arrangement had been due to expire on 10 November. Its renewal keeps an economic detente in force that was reached during Chinese President Xi Jinping's state visit with President Donald Trump.
The decision gives Washington and Beijing more time to deal with trade matters that remain unsettled and to consider a wider economic agreement. The specific subjects under discussion have not been made public. There is also no indication of what a larger deal could cover or whether the talks have moved closer to one.
Washington is prepared to continue under the current arrangement or to seek a broader agreement. The 10 January date sets a further period for the Busan Agreement. Negotiations between the two countries are expected to continue beyond that deadline.
The Busan Agreement is a trade truce created through high-level engagement between the United States and China. Its extension maintains the present framework while officials on both sides continue discussions over their trade relationship.
For now, the announcement establishes continuity rather than a newly defined settlement. Bessent's statement described an extension of the existing agreement, and no new trade provisions were set out in the announcement.
The practical effect of the decision on trade flows or the wider economy remains unclear. The terms of the Busan Agreement that are being carried forward were not detailed in the announcement, and neither side identified any specific unresolved issue that had led to the extension.
The talks also leave open two different paths. The countries could preserve the framework that has been extended, or use the additional time to reach a larger economic arrangement. Washington has indicated that either course remains possible.
The extension reflects continued contact between the two economic powers at a senior level. Bessent's meeting with He came before the announcement, linking the new timetable to direct discussions in Washington.
Whether those discussions produce a broader agreement is unknown. The extension gives both governments time to keep working within the Busan framework, while leaving the central trade questions for later negotiation.
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