The United States and China concluded another round of trade negotiations that were characterized as “constructive” by both parties, but without any significant gains. The May truce is about to expire next month, raising the possibility of a resurgence of the unrest that occurred in April when the two nations traded increasing tit-for-tat tariffs. The talks took place in Stockholm, Sweden.
According to US Treasury Secretary Scott Bessent, President Donald Trump will decide whether to extend the ceasefire, which was reached after both parties agreed to halt specific steps. Both parties will work to maintain that deal, according to Li Chenggang, China’s trade negotiator. Beijing and Washington have been at odds over tariffs and other problems, such as US demands that China accelerate its export of vital minerals and that China’s ByteDance sell TikTok.
Soon after returning to the White House, Trump began raising taxes on Chinese imports. China finally retaliated with its tariffs. Tariff rates reached triple digits as tensions increased, and a trade truce was reached in May. As a result, Chinese goods now face a 30% higher duty than they did at the beginning of the year, while US goods now face a 10% tariff in China.
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