FX.co ★ Trump Signals China Trade Truce Deal Ahead of August Deadline

President Donald Trump announced on Tuesday that the United States and China are on the verge of extending their trade truce, a development that has helped prevent further tariff escalations and relaxed restrictions on the exports of rare earths and technology. Trump also mentioned that he is prepared to meet with Chinese President Xi Jinping by the year's end, contingent upon reaching an agreement. The existing truce is scheduled to expire on August 12. Recently, U.S. Treasury Secretary Scott Bessent engaged in discussions with Chinese Vice-Premier He Lifeng in Stockholm, marking the third round of talks in less than three months. A failure to secure a deal could destabilize global supply chains once more, with U.S. tariffs potentially returning to triple-digit figures.