China announces extended trade truce with US

The Chinese government has released details of its recent trade talks with the United States. It says the trade truce between the two countries would be extended by two months. This confirms what the US side has already announced. China's Commerce Ministry said on Monday that it agreed with the US to extend the trade truce to January 10. The truce was set to expire November 10.

The ministry said it is seeking a solution on a further extension through high-level economic and trade interactions before the end of the year.  It also said the two sides agreed to reduce tariffs on about 30 billion dollars' worth of imported goods. Tariffs on around 90 percent of the covered products would be lowered to "most-favored-nation" rates.