US and China remain divided on trade truce extension as November deadline looms

The US and China are running out of runway. Trade Representative Jamieson Greer confirmed that the two largest economies on earth still can’t agree on whether to extend their current tariff ceasefire, which expires on November 10, 2026. In a Bloomberg Television interview on September 21, Greer said the US is open to pushing the truce out by three to six months, but cautioned against expecting any quick resolution. New York talks: productive but empty-handed Preparatory discussions took place on September 20 in New York, bringing together US Treasury Secretary Scott Bessent, Greer, and Chinese Vice Premier He Lifeng. The meeting was designed to smooth the path ahead of a summit between President Donald Trump and Chinese President Xi Jinping scheduled for September 24. US officials described the conversations as productive. They also acknowledged that no major deliverables came out of them. The current truce, stitched together through a series of agreements between 2025 and 2026, caps tariffs from both sides at approximately 20%. The sticking points Several unresolved issues are keeping negotiators up at night. The biggest one: critical minerals. China committed to delivering rare-e...