U.S.-China Trade Talks in Stockholm: Extending the Economic Truce
Top U.S. and Chinese officials convened in Stockholm to negotiate a potential extension of their economic truce amid ongoing trade disputes. With looming deadlines, impacts on global supply chains, and high-stakes involved, both nations focus on ensuring smooth trade exchanges and planning a meeting between Trump and Xi Jinping.
High-level U.S. and Chinese economic officials gathered in Stockholm to address longstanding trade disputes. With the aim of extending a fragile truce by three more months, U.S. Treasury Chief Scott Bessent and China's Vice Premier He Lifeng participated in crucial negotiations at the Swedish prime minister's office.
The urgency is compounded by an approaching August 12 deadline for China to reach a tariff agreement with the Trump administration. Without it, global supply chains could face disruptions due to resumed U.S. duties, potentially resulting in a full-blown trade embargo. The potential meeting between Trump and Xi Jinping further highlights the need for progress.
The Stockholm talks follow a significant trade deal between the U.S. and the European Union and signal cautious optimism. However, officials, including U.S. Trade Representative Jamieson Greer, do not anticipate any major breakthroughs. Instead, the focus remains on ensuring the continued flow of critical minerals and laying groundwork for future balanced trade discussions.
(With inputs from agencies.)
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