U.S. and China Set to Tackle Trade Tensions in Stockholm Talks
U.S. and Chinese officials will meet in Stockholm to discuss extending the trade negotiation deadline, following recent tariff announcements with the Philippines and Indonesia. The meetings aim to rebalance the trade relationship amidst ongoing issues, including China's manufacturing strategies and its purchase of Russian oil.
In a significant diplomatic move, U.S. and Chinese officials are scheduled to convene in Stockholm next week to explore extending the deadline for crucial trade negotiations. U.S. Treasury Secretary Scott Bessent confirmed the meeting amid ongoing global trade tensions. This follows recent tariff developments involving the Philippines and Indonesia.
The talks aim to address the longstanding U.S.-China trade imbalance and are set to include comprehensive discussions about reducing China's dependency on manufacturing exports. The discussions will also cover sensitive topics like China's export controls on rare earths and access to markets.
Additionally, the U.S. is poised to caution China regarding its continued purchase of sanctioned Russian oil, amidst broader U.S. legislative efforts to impose significant tariffs on nations buying Russian oil. These meetings underscore the complexities of global trade dynamics and the strategic maneuvers involved in shaping international economic policies.
(With inputs from agencies.)
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