Trump, Xi Buy Time on Trade With Neither Able to Afford a Fight

Donald Trump and Xi Jinping agreed to extend the US-China trade truce until early 2027, reducing the near-term risk of renewed tariffs or broader economic confrontation between the world’s two largest economies. The agreement provides a measure of stability for global supply chains and trade-sensitive assets, though unresolved tensions over rare earths, technology restrictions and Taiwan leave material geopolitical and policy risks intact.