The U.S. and China are reportedly expected to extend their trade truce by up to a year during a potential April summit in Beijing between Presidents Donald Trump and Xi Jinping.
The extension would focus on short-term economic gains, including new Chinese purchase commitments, as Trump seeks tangible wins ahead of the November midterm elections, the South China Morning Post reported on Thursday, citing sources.
While no U.S. CEOs have been invited to join the delegation, the Trump administration wants to avoid appearing to promote American investment in China. However, potential auto and energy deals could emerge, with the recent TikTok agreement seen as a possible template for broader industry arrangements, according to the report.
The exact timing of the meeting is still being discussed, with Beijing considering the timeframe around the April 5 Ching Ming festival in its scheduling.
The White House did not immediately respond to Benzinga‘s request for comment.
Bessent Advances US-China Trade Agenda
Senior U.S. Treasury officials wrapped up a key visit to Beijing last week, paving the way for Treasury Secretary Scott Bessent to hold direct trade talks with Chinese Vice Premier He Lifeng. Bessent said both sides are working to sustain the diplomatic “thaw” from earlier discussions and expressed optimism about maintaining positive momentum ahead of their next in-person meeting.
Bessent also said that Trump’s planned April visit to Beijing will center on addressing China’s massive trade imbalance, including a $1 trillion surplus he called unsustainable. He indicated the administration will push to reduce the gap while steering the U.S. toward greater industrial self-reliance.
Meanwhile, at a Lunar New Year reception on Tuesday, Chinese Ambassador to the U.S., Xie Feng called for stronger U.S.-China cooperation in agriculture, energy, and the broader economy, while encouraging collaboration in areas such as counter-narcotics, law enforcement, biomedicine, and artificial intelligence. He urged both nations to avoid viewing relations through a “zero-sum” mindset but emphasized that Taiwan remains a non-negotiable “red line,” reported SCMP.
Trump Hints At Xi’s White House Visit
Trump said the Chinese President is expected to visit the White House later this year. In a Wednesday interview with NBC News, Trump shared that the two leaders recently held broad talks on trade, Taiwan, Russia’s war in Ukraine, and Iran. He added that Xi praised U.S. progress and is considering increasing China’s purchases of American soybeans ahead of Trump’s anticipated April trip to Beijing.
The two leaders had met in October at the sidelines of the APEC summit in Busan, South Korea, wherein discussions revolved around fentanyl tariffs, U.S. soybean purchases, rare earth, and overall Chinese exports.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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