US says China trade truce extended as Trump welcomes Xi

The last such reception was for Pope Francis in 2015 during Barack Obama's presidency."China and the United States should be partners, not rivals," Xi said in a written statement released by the Chinese embassy that made no reference to a trade deal.A trade deal, even a limited one, could soothe global markets shaken by a 2025 tariff war that led to triple-digit levies between the world’s two biggest economies.

Bessent told Fox News' "Special Report" that the deal would extend the truce through January 10.

It had been set to expire on November 10.Deep differences remain.

The two countries are at odds on issues including export controls on rare-earth minerals and computer chips, China’s ties with Iran and US support for Taiwan.The meeting comes at a difficult moment for Trump, who faces public discontent with his war on Iran.

Xi, while also facing challenges at home, arrives in a seemingly stronger position, with his country's trade engine roaring.

Some Republicans regard Beijing as an existential threat and are wary of Trump's friendly outreach to China's ruling Communist Party.People familiar with the plans said Xi was likely to raise Beijing's claim to Taiwan, a topic Washington would prefer to avoid, while Trump was likely to maintain firm export controls over Xi’s objections.

It was unclear whether Beijing would help Trump break a stalemate in the conflict with Iran.But talks set for Thursday could nonetheless yield deals to lower tariffs in specific sectors, cooperate on drug trafficking and expand military-to-military dialogue.

Trump is expected to seek the release of some Americans and others detained in China, according to the people.The two countries could also agree to talk more on AI, where they are in fierce competition despite growing dangers.The leaders themselves may not feel they need to compromise, analysts said."The president very much believes that over time the US economy is going to grow, the US will get stronger," said Edgard….

"I think when Xi Jinping sits down with Donald Trump, he very much believes the US is in hurtling decline, and that time is on China's side."Additional fanfare during the trip is due to include a state dinner with tech luminaries, a White House military ceremony and a visit to the National Archives where the original Declaration of Independence and Constitution are housed.The state dinner on Thursday is expected to….

Instead of a joint press conference at the end, the countries are expected to issue duelling announcements highlighting what each side hopes to convey to domestic audiences.For Trump, the trip caps a week of diplomacy that began with a two-day stay in New York for the United Nations General Assembly.

Nearly seven months of war with Iran have spiked energy prices in the US, and the president's Republican Party faces tough prospects in November’s congressional elections.Xi has overseen a surge in China's trade but faces weak household spending and a property-market downturn.

Sweeping corruption crackdowns in the military have helped cement Xi’s power but also raised questions about the People's Liberation Army's readiness.Another meeting between Trump and Xi is seen as likely this year, potentially at November's Asia-Pacific Economic Cooperation summit in China or the Group of 20 meetings in the US in December.

US says China trade truce extended as Trump welcomes Xi Xi's US visit aims to stabilise ties as Washington and Beijing remain divided over key issues.