Tuesday marked the start of the second day of negotiations between US and Chinese officials in Stockholm to settle long-standing economic disagreements and take a break from the growing trade war between the two largest economies in the world.
Although there might not be any significant progress at the discussions right away, the two parties might decide to extend the tariff ceasefire that was established in mid-May by another ninety days.
China wants US tech export restrictions and tariffs to be lowered. On Tuesday, US Treasury Secretary Scott Bessent (center) arrives in Rosenbad, Sweden, the Swedish government capital. France-Presse Agence.
Following a separate meeting with Swedish Prime Minister Ulf Kristersson, US Treasury Secretary Scott Bessent was spotted arriving in Rosenbad on Tuesday morning. He Lifeng, the vice premier of China, also showed up to the location. Following the first day of negotiations, neither party released any remarks.
After negotiating initial agreements in May and June to cease weeks of rising tit-for-tat tariffs and a cut-off of rare earth materials, China faces an August 12 deadline to secure a sustainable tariff agreement with Trump’s administration. Without a deal, US levies might return to triple-digit levels, which would constitute a bilateral trade embargo, causing more disruption to global supply networks.
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