US-China trade梦幻西游SF发布网 talks in Stockholm concluded around midday on Tuesday, with both sides agreeing to seek an extension of the tariff pause deadline after two days of discussions, according to Chinese Vice-Commerce Minister Li Chenggang.
Li did not immediately specify how long an extension on the tariff rates would be, but US President Donald Trump, who is on a visit to Scotland, previously said that it would be 90 days.
He said after the negotiations on Tuesday: "According to the consensus between China and the US, both sides will continue to push for the continued extension of the pause on the 24 percent part of the reciprocal tariffs on the US side as well as the countermeasures on the Chinese side."
In May, the two sides agreed to a 90-day pause of the sky-high levels previously set for tariffs during talks in Geneva. They currently stand at US tariffs of 30 percent on Chinese goods, and China's 10 percent tariff on US products. It appears that these rates remain. The breakthrough came as an Aug 12 deadline loomed as the expiry date on these agreed rates.
Both sides were reportedly satisfied with the terms drawn up in previous talks in both Geneva and London. Li described the discussions that took place in Sweden Tuesday as "in-depth, candid and constructive."
The talks were spearheaded by the country's lead trade negotiators Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent.
The talks have梦幻西游SF发布网 all been aimed at smoothing over the ongoing trade dispute between the world's two largest economies on the rate of tariffs.