Key Facts
• U.S. and China held two-day trade talks in Stockholm, Sweden.
• No final agreement reached to prevent tariff hikes on August 12.
• Tariffs could rise to historic levels if no deal is made.
• U.S. Treasury Secretary Bessent called the talks “constructive.”
• Tariff suspension extension requires approval from President Trump.
• May agreement reduced tariffs: U.S. (145% to 30%), China (125% to 10%).
• Without a new deal, U.S. tariffs on Chinese goods may rise by 34%.
• Talks included China’s purchase of Russian oil under U.S. sanctions.
• U.S. warned of potential 500% tariffs on Chinese imports of Russian oil.
• Dual-use technology sales to Russia and Iranian oil purchases also discussed.
• This was the third round of talks after Geneva (May) and London (June).
Summary
U.S. and Chinese trade officials met in Stockholm to discuss extending a tariff suspension and addressing key issues, including China’s purchase of Russian oil. While no final agreement was reached, both sides expressed optimism. Without a deal, tariffs on imports could rise significantly on August 12. The U.S. delegation, led by Treasury Secretary Bessent, described the talks as productive but noted that President Trump must approve any extension. Discussions also covered dual-use technology sales to Russia and Iranian oil purchases. This meeting follows earlier negotiations in Geneva and London, which aimed to stabilize trade relations. A decision on the tariff suspension is expected soon.
