US and Chinese officials described two days of negotiations in Stockholm as “constructive”. Although the sides did not reach an agreement to extend the 90-day tariff truce established in May, they agreed to continue working toward maintaining it.
According to Chinese representative Li Chenggang, both parties understand the importance of preserving the truce. US Treasury Secretary Scott Bessent emphasized that the final decision would be made by President Donald Trump. “Nothing will be decided without consulting Trump,” he said.
The tariff truce is set to expire on August 12. If not extended, tariff rates may rise again. In April, both sides raised tariffs, escalating trade tensions. Currently, Chinese goods face up to 30% additional tariffs in the US, while US goods are subject to new 10% tariffs in China.
In addition to tariffs, other key issues were discussed: the sale of TikTok, rare earth mineral exports, and China’s relations with Russia and Iran. The US stated it aims to reduce risks particularly in the technology and pharmaceutical sectors.
