The main U.S. and Chinese officials gathered in Stockholm on Monday to maintain their delicate trade agreement while working toward a possible presidential meeting between Donald Trump and Xi Jinping during the current year.
The talks between U.S. Treasury Secretary Scott Bessent and China’s Vice Premier He Lifeng occurred after several months of preliminary agreements while the parties worked to prevent rising tariffs before the August 12 deadline. The global supply chain faces potential disruption because punitive duties would return to their triple-digit levels if no new agreement is reached.
Bessent explained that the meetings concentrated on monitoring previous agreements’ execution and maintaining essential mineral and technological product deliveries. The current truce will probably be extended for 90 days to create opportunities for establishing a comprehensive solution.
The Financial Times reports that the U.S. has suspended particular tech export restrictions to support ongoing negotiations. The tensions between the two nations continue to rise because U.S. lawmakers are developing new legislation to address Chinese human rights violations.
The fundamental problems between China’s state-backed export system and U.S. national security worries continue to persist despite the current talks. The talks serve as an essential process to achieve stability in relations before a possible meeting between Trump and Xi takes place later this year.
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