China Seeks to Extend US Trade Truce, Sets Limit on 301 Tariffs

China said it will continue negotiating with the US to extend a trade truce reached last October, as ties between the world’s two largest economies further stabilize.

Trade teams from both countries will discuss extending the one-year agreement negotiated in Kuala Lumpur, China’s Commerce Ministry said in a statement Tuesday. The sweeping deal was later announced in a leaders’ summit in Busan, South Korea, that led to a suspension of some tariffs, rare earth curbs and investigations into China’s shipbuilders until November this year.

The ministry signaled Beijing would accept US tariffs provided they do not exceed the level set ...