00:00Let's get live to Washington now. Our chief North Asia correspondent Stephen Engel is
00:03with us. So obviously the mood music has been broadly positive since we had the first round
00:08of talks and the drumbeat ahead of the leaders' talks. There's clearly still a lot of tensions
00:15that may not be resolved. Oh, absolutely. There's a long laundry list. I think what they're trying
00:22to find now is some common ground where they can agree to the deliverables that both presidents
00:29on Thursday will be able to announce. So they're not necessarily tackling the most contentious
00:35issues right now. That's why the question about extending this trade truce is so critical right
00:42now, and Jameson Greer talked about it. Essentially, U.S. trade representatives or any trade negotiator
00:47always wants leverage, and Jameson Greer wants leverage. So when we're talking about when to
00:53do that extension, if at all, and how long will that extension last, what we're hearing from
00:58Jameson Greer is that three to six months extension is something that the United States is looking
01:04at instead of a full year, where my sources and our sources in China are saying the Chinese
01:09government would sort of like a two-year extension to give a longer runway and more certainty,
01:16as Anne-Marie's point points out. But again, that is leverage from the Chinese side. They
01:21will start with two-year demand and work it down. Jameson Greer, I'm not going to speak for
01:26him, but I would assume that when he's saying, you know, three months, because we really want
01:30to make sure that China is in compliance on their commitments for agricultural purchases
01:35and also those export licenses for critical rare earths, a three-month timeline or maybe
01:41up to six months would be more advantageous to make sure there is pressure on the Chinese
01:47to fulfill their obligations. But again, it's negotiating. Maybe they both come down and it's another
01:53one-year extension sometime in November.
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