Washington:The United States and China have reached an agreement to extend their trade truce until January 10th. This announcement coincides with the state visit of Chinese President Xi Jinping to the U.S.

According to Emirates News Agency, U.S. Treasury Secretary Scott Bessent made the announcement following discussions with Chinese Vice Premier He Lifeng. The extension adds two more months to the existing truce.

Previously referred to as the 'Busan Agreement,' the truce was originally set to expire on November 10th. The new arrangement will now keep the agreement effective until January 10th.