Bloomberg Surveillance · Tuesday, September 22, 2026
The extension of the Busan trade deal, which expires November 10th, is anticipated to be a last-minute decision as both the U.S. and China believe the other side wants it more. While both nations desire an extension, the specifics of a six-month versus a three-year extension remain a point of negotiation.
“And my sense here is both the United States and the Chinese ultimately want to see an extension of Busan. There is common ground that this is the new detente. This is the new normal. It's about is it in the U.S. interest or the Chinese interest to have a six-month extension or a three-year extension. And so I think this is going to come down to the wire. Again, both sides want this, but both sides think the other side wants it more. So this will be a last minute decision. My base case is we won't see that announcement until November.”