'Busan Agreement' explained: What the US-China trade truce means for world trade
- Posted on September 24, 2026
- By Business News Today
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- 1 min read
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'Busan Agreement' explained: What the US-China trade truce means for world trade
US Treasury Secretary Scott Bessent announced the extension of the Busan Agreement until January 10, 2027. This extension allows both sides more time to negotiate without facing immediate tariff threats. The Busan Agreement was initially established to ease trade tensions between the US and China last year. Key areas of focus include agriculture and non-tariff barriers that require further discussion.
