Balance of Power

Trump and Xi Call a Truce on Trade, for Now

US, China deal offers temporary ceasefire rather than full armistice.

Gantry cranes and shipping containers at the Port of Nansha in Guangzhou, China on Aug. 10.Source: Bloomberg

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By James Mayger

October 27, 2025 at 10:59 AM UTC

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Negotiators set up a wide-ranging agreement for US President Donald Trump and Chinese President Xi Jinping to finalize when they meet in South Korea later this week.