BEIJING/WASHINGTON: China has confirmed that the trade truce with the United States will be extended through January 10, giving both sides more time to work on economic and trade issues.

Reuters reported that China’s Commerce Ministry said the extension would provide a relatively stable and predictable policy environment for businesses and continued discussions. The two countries are also expected to discuss tariff arrangements covering billions of dollars in products.

Why the extension matters

The US and China remain major trading partners, so changes in tariffs can affect companies, supply chains and global markets. The extension does not by itself resolve all outstanding trade disagreements.

Source: Reuters report | NewsNationOnline International News

Imran Siddiqui

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