U.S. and China Still Split on Extending Tariff Truce, Greer Says

What Greer said on timing

Speaking on Bloomberg Television on Monday regarding the tariff pause with China that ends Nov. 10, Trade Representative Jamieson Greer said, "We will continue to have discussions about that." He added, "Our sense is we aren't going to have the extension today, but again we still have some time before that happens. So my expectation is that we'll continue talking and I think both sides want it." When pressed on duration, he said a three to six month extension is "probably the right kind of range," while indicating it likely will not be announced this week.

Why Washington prefers short rollovers

Greer said China's moves to limit rare earth exports have added uncertainty that the U.S. is watching closely, which is why the U.S. favors incremental extensions to test compliance. As he put it, "Just saying we have full trust and full confidence in each other at this point, I think is a little naive."

Meetings that set up the leaders' summit

Greer spoke after a multi-hour discussion in New York on Sunday with Treasury Secretary Scott Bessent and Chinese counterparts. The agenda covered artificial intelligence, trade and fallout from the war in Iran, helping set the stage for this week's meeting between Donald Trump and Xi Jinping. "The focus is on stability between the US and China and we're continuing that," Greer said.

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Why it matters for your money

Short extensions keep the pressure on and the uncertainty high. Watch three things if you are following markets from home: how long any extension runs, concrete signals around rare earth exports, and whether the Trump-Xi summit points to steadier policy or more churn.

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