U.S. Extends Trade Truce With China Until January
On Wednesday, U.S. President Donald Trump extended a rare tarmac welcome to Chinese leader Xi Jinping at Joint Base Andrews outside Washington — the first such gesture in about six decades from an American president toward a foreign head of state (excluding papal visits). This diplomatic move coincided with Treasury Secretary Scott Bessent announcing that the current trade truce between the U.S. and China has been extended until January 10, offering more time for negotiations to avoid escalating tariffs. Meanwhile, global markets reacted sharply as the 10-year Treasury yield surged to its highest level since July 2007 at 5.135%, driven by strong inflation data and hawkish comments from Federal Reserve Governor Michael Barr suggesting further rate hikes may be needed. U.S. stock futures remained flat during this period, but major indices like the Dow Jones Industrial Average fell over 0.7% in regular trading. In a separate development at the United Nations General Assembly, Iran's President Masoud Pezeshkian accused the U.S. and Israel of destabilizing global peace while advocating for unrestricted peaceful nuclear technology. In contrast to Trump’s skepticism about AI oversight as “a globalist scheme,” OpenAI CEO Sam Altman and Anthropic co-founder Dario Amodei urged international cooperation on artificial intelligence safety at a UN Security Council briefing.
Topics: Iran at UN Trade truce extension Treasury yield rise Trump-Xi meeting U.S.-China relations