Treasury Secretary Scott Bessent said Wednesday night that the United States and China have extended their trade agreement by two months, pushing the new end date to January 10. 

The U.S. and China trade agreement, which was initially set to end in November, saw both sides roll back restrictions on critical minerals and high-tech exports that threatened to cripple global supply chains. It also blocked their triple-digit tariffs.

“That is going to be extended until January 10 to give us more time to see what we can do on the economic front,”  Bessent said in an interview on “Special Report” with Bret Baier. “I don’t know whether a bigger deal can be done. I don’t know whether we will just roll the current deal."

The announcement comes as Washington, D.C., kicks off Chinese President Xi Jinping's official state visit this week. Xi arrived in the capital on Wednesday and is expected to remain in the city through Friday. 

The event includes a formal welcome, bilateral talks, an official state dinner and a tea at the White House. 

Bessent said he met with his Chinese counterpart earlier Wednesday, where they talked about expanding the truce, and teased other announcements during the official visit, according to Politico.

“We’re going to see probably some announcements of maybe financial services, [agriculture] purchases,” he said. “There’s quite a bit going on here ... There are some deliverables that have not been perfect on the Chinese side, so we also want to see, now that we’ve sat down and told them our expectations, to see if over the coming months they can be a bit more fulsome in enacting the agreement."

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.