World Economy

US, China Remain Apart on Trade Truce Terms as Negotiations Extend

The United States and China continue negotiations on extending their trade truce, with officials divided on key terms, according to US Trade Representative Jamieson Greer. Washington has indicated it could support an extension ranging from three to six months. The two nations have not yet aligned on final conditions. US Treasury Secretary Scott Bessent characterized recent talks with Chinese counterparts as "very successful." The extended negotiations come as global trading patterns shift amid uncertainty over US trade policy. India and New Zealand are moving ahead independently, with their free trade pact taking effect October 20 as countries seek alternative partnerships. Meanwhile, transpacific freight rates are climbing, though market analysts debate whether capacity constraints or other factors are driving the increases.