Hong Kong media, citing informed sources, reported that at the bilateral meeting between the Chinese and US leaders expected in early April, the trade truce agreement reached last year may be extended by up to one year.
The South China Morning Post reported on the 12th, citing several informed sources, that US President Trump is planning to visit China in early April and meet with Chinese President Xi Jinping. Both parties are prepared to extend the previous trade truce agreement reached in South Korea by up to one year.
Sources said that extending this informal agreement is regarded by officials as a feasible move at present and may also help the China-US leaders' summit produce some short-term economic results, including a new Chinese commitment to purchase soybeans.
Xi Jinping and Trump held a meeting on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Busan, South Korea on October 30 last year, after which the two countries' tariff and rare earth disputes essentially entered a technical truce for one year. The US had threatened to impose three-digit high tariffs on China, to which China responded by temporarily halting purchases of US soybeans. However, after the truce agreement was reached, China resumed purchasing US soybeans.
On the evening of February 4, Xi Jinping and Trump had a nearly two-hour phone call. Trump later revealed that China is considering purchasing more soybeans from the US and provided specific figures: this season's purchase volume would rise significantly from the original 12 million tons to 20 million tons, with a promise to purchase 25 million tons next season. According to reports, Trump is striving to secure some "substantial outcomes" before the US midterm elections in November, in response to concerns about whether the Republican Party can maintain a majority in Congress.