Big news from China: Trump may extend tariff truce for a year

By CNBCTV18.com February 12, 2026, 8:46:47 AM IST (Updated)While there's no official confirmation, it's widely speculated that US President Donald Trump and his Chinese counterpart, Xi Jinping, will meet at the Beijing Summit in early April 2026.

Now, a new report says the two leaders may agree to extend the current tariff truce, in effect since November 2025, by another year.

The latest report in the South China Morning Post, headquartered in Hong Kong, cites multiple sources familiar with the discussions between Washington, D.C. and Beijing.Asian markets hit a new record high on Feb 12, extending their winning streak to a fifth straight day.

With the latest rally, the MSCI Asia Index is up around 13% so far this year, its best start to the year relative to the S&P 500 this century, according to Bloomberg.

The November 2025 rollback of tariffs and export controls followed an hour-and-forty-minute meeting between Trump and Xi in Busan, China. The two leaders agreed to pause trade hostilities for a year.

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(Edited by : Sriram Iyer)

First Published: Feb 12, 2026 8:25 AM IST