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US Holds Off Extending Trade Truce, Guardrail Talks Planned

5/21/2026

Summary

Story summary

Treasury Secretary Scott Bessent said the Trump administration is not rushing to extend trade truce expiring in November.
He said China meets critical-minerals obligations and situation is stable.
Bessent expects China will accept return to U.S. Section 301 tariff rates after the Supreme Court struck down the global-emergency duties.
He announced guardrail talks will start within four to eight weeks and that Xi Jinping will meet President Donald Trump in September.

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Story summary

Treasury Secretary Scott Bessent said the Trump administration is not rushing to extend trade truce expiring in November.
He said China meets critical-minerals obligations and situation is stable.
Bessent expects China will accept return to U.S. Section 301 tariff rates after the Supreme Court struck down the global-emergency duties.
He announced guardrail talks will start within four to eight weeks and that Xi Jinping will meet President Donald Trump in September.