China says US trade truce extension creates space to advance talks

China's commerce ministry said on Monday that a two-month extension of its trade truce with the United States, now running to January 10, gives both sides room to assess how their arrangement on economic and trade issues is being put into effect.

According to Business Recorder, Beijing described the move as offering a relatively steady and foreseeable policy setting for companies. The extension was a key outcome of the summit between Xi Jinping and Donald Trump, the year's second, held in Washington last week.

Among the early steps under a trade council that the two countries have agreed to set up is a discussion on reciprocal tariff reductions covering $30 billion of goods. The ministry said such cuts would also improve conditions for Chinese exports of related products to the US. Separately, an agriculture working group will meet before year end, and China will import 10 million metric tons of US coal annually in 2027 and 2028.