On September 23, 2026, U.S. Treasury Secretary Scott Bessent confirmed that the United States and China have extended their existing trade truce (the βBusan Agreementβ) until January 10, 2026. The two-month extension comes ahead of the Trump-Xi summit and keeps certain tariff suspensions and rare-earth supply commitments in place. Procurement, sourcing and supply-chain teams that rely on Chinese components or sell into China should treat the new date as a hard planning horizon and continue dual-sourcing work.
The short-term trade truce between the United States and China will now run until January 10, 2026, rather than expiring in November. For procurement leaders managing China-dependent bill-of-materials or export sales, the extension reduces near-term tariff cliffs but does not remove the need for contingency plans.
This article summarizes publicly reported statements for operational planning. It is not legal or trade-compliance advice. Companies should consult qualified counsel on classification, origin and duty exposure.
- What changed? The bilateral trade truce was extended by two months to January 10, 2026.
- When? Announced by Treasury Secretary Bessent on September 23 after talks with Chinese Vice Premier He Lifeng.
- Who is affected? Importers of Chinese goods, exporters of U.S. agricultural and industrial products, and any firm whose supply chain depends on rare-earth or intermediate inputs from China.
- What to do this week? Update duty and landed-cost models through January, reconfirm dual-source qualification timelines, and map inventory buffers against the new horizon.
What is the βBusan Agreementβ and why was it extended?
The truce was originally struck after earlier rounds of tit-for-tat tariffs. It suspended certain U.S. restrictions and Chinese retaliatory measures while China committed to steady rare-earth supply and agricultural purchases. Bessent stated the extension gives both sides more time to explore a larger economic package rather than a series of smaller roll-overs. He met He Lifeng twice in four days ahead of President Xiβs state visit.
What stays in place under the extension?
Existing tariff suspensions and the rare-earth flow commitments remain operative through the new January 10 date. Bessent also indicated the sides are discussing possible reductions on roughly $30 billion of non-sensitive goods and additional financial-services and agricultural announcements. Beijing has met its soybean volume target but is reported to be lagging on other agricultural purchase pledges.
Why does the January date matter for operators?
A November expiry would have forced many firms to accelerate inventory builds or qualify alternative suppliers before year-end holidays. The January horizon shifts that pressure into early 2027 planning cycles, yet it does not eliminate the underlying policy risk. Firms that treat the extension as permanent risk being caught short if talks stall again.
What should procurement and supply-chain teams do this week?
Recalculate landed-cost scenarios with the new expiry date. Confirm that dual-sourcing or near-shoring projects still hit internal milestones before January. Review contracts that contain tariff pass-through or force-majeure language tied to trade-policy changes. Brief finance and sales on the updated risk window so pricing and customer commitments remain consistent. Monitor any official White House or MOFCOM statements that may modify product lists or volume commitments.
What to watch next?
Outcomes of the Trump-Xi meetings this week, any joint communiquΓ© on agricultural or financial-services deals, and whether China accelerates the lagging non-soy agricultural purchases. Also watch for technical modifications to the product lists covered by the suspended tariffs.
Is the extension a permanent deal?
No. It is a two-month roll-over of the existing truce to January 10, 2026, intended to create negotiating space.
Do tariffs on Chinese goods disappear?
Certain suspensions remain in force; other tariffs and Section 301 actions continue. Classification and origin rules still apply.
What about rare-earth supply?
Chinaβs commitment to provide a steady flow of rare-earth minerals needed by U.S. manufacturers remains part of the extended arrangement.
Should we stop dual-sourcing work?
No. The extension reduces near-term cliff risk but does not remove the strategic case for supplier diversification.
Son GΓΌncelleme / Last Updated: September 24, 2026.
Related: US-Canada Import Bans September 29 Β· US-China Board of Trade Tariff Cuts Β· Procurement Hub
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