**US-China trade tensions remain contained amid a recently extended truce and ongoing diplomatic engagement, supporting trader expectations that no new US sanctions on China will be imposed by October 31.** The two nations agreed in September to prolong the Busan Agreement truce until January 2027, pausing further tariff hikes and certain export controls while leaders prepare for upcoming summits. Recent US measures have focused on enforcement of existing outbound investment rules and isolated penalties rather than broad new sanctions lists or entity designations targeting China. Beijing has responded to Pentagon updates and other actions with its own export curbs and procurement restrictions, but these reciprocal steps have not triggered immediate US escalation. With only days remaining and no major diplomatic ruptures or legislative deadlines in the window, the market reflects a strong consensus that the status quo will hold through the end of the month.