China and US Poised to Extend Trade Truce, Business Leaders May Join Xi’s Trip
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China and US Poised to Extend Trade Truce, Business Leaders May Join Xi's Trip
- Chinese and US officials are reportedly discussing the inclusion of business leaders in President Xi Jinping's upcoming visit to the United States, as a one-year trade agreement reached in Busan last October is likely to be extended.
- This development follows a meeting on Wednesday, August 27, 2026, between Chinese Foreign Minister Wang Yi and US Ambassador to China David Perdue, where both sides emphasized the need to manage differences and facilitate high-level exchanges.
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Discussions are underway regarding the potential inclusion of Chinese business leaders in President Xi Jinping’s delegation for his upcoming visit to the United States. This move would mirror US President Donald Trump’s visit to Beijing in May 2026, which included top American CEOs. The exact composition of the Chinese business delegation and which side initiated the idea remain under negotiation. Companies interested in investing in the US or those impacted by the Board of Trade agreement are considered potential participants.
A key aspect of the ongoing discussions is the extension of a one-year trade agreement. This truce, initially forged in Busan in October 2025, is widely expected to be prolonged. The original agreement involved the US lowering some tariffs on Chinese goods and pausing additional restrictions, while China suspended certain rare earth export controls for a year and committed to purchasing American soybeans and controlling fentanyl precursor materials. China is reportedly advocating for a longer extension, ideally through the end of President Trump’s term in 2029, viewing the current agreement as favorable. However, the US currently favors another one-year extension.
These diplomatic efforts come ahead of President Xi’s anticipated meeting with US President Donald Trump in Washington on September 24. Preparations for this visit were a central topic in the recent meeting between Chinese Foreign Minister Wang Yi and US Ambassador David Perdue in Beijing. Both officials underscored the importance of implementing the consensus reached by their leaders, managing existing differences, and removing obstacles to high-level interactions to foster a “stable, healthy and sustainable” relationship.