US Treasury Secretary Scott Bessent said the US and China could extend their truce on critical minerals and tariff rates through additional meetings later this year, while consultations on AI guardrails may begin within four to eight weeks. Bessent said the two sides plan to identify an initial $30 billion of non-critical goods eligible for reduced or zero tariffs under a new trade protocol and are developing an investment framework to clarify deals that would not require CFIUS review. He added

US Treasury Secretary Scott Bessent said the US and China could extend their truce on critical minerals and tariff rates through additional meetings later this year, while consultations on AI guardrails may begin within four to eight weeks. Bessent said the two sides plan to identify an initial $30 billion of non-critical goods eligible for reduced or zero tariffs under a new trade protocol and are developing an investment framework to clarify deals that would not require CFIUS review. He added the Trump administration is not rushing to extend the current trade truce set to expire in November.