US and China Resume High-Stakes Trade Talks in Sweden
STOCKHOLM – High-level trade officials from the United States and China have convened in Stockholm, Sweden, for a crucial round of discussions aimed at de-escalating economic tensions between the world's two largest economies. This meeting, held at the historic Rosenbad building, the office of Swedish Prime Minister Ulf Kristersson, marks the third such engagement in as many months, following previous talks in Geneva in May and London in June.
Leading the delegations are U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng. The talks come with significant global attention, particularly as a 90-day tariff truce, agreed upon earlier this year, approaches its August 12 expiration date. A key objective for both sides is to extend this truce, preventing a snap-back to higher, triple-digit tariffs that previously roiled global markets.
Beyond the immediate tariff concerns, the agenda for the Stockholm talks is broad and complex. Discussions are reportedly covering various contentious issues, including improving access for American businesses to the Chinese market, addressing Chinese investment in the U.S., curbing the flow of fentanyl components from China, and examining Chinese purchases of Russian and Iranian oil. China is also expected to press for a reduction in U.S. tariffs and a rollback of tech export controls.
Swedish Prime Minister Ulf Kristersson welcomed the event, highlighting its importance not just for bilateral trade but for the wider global economy. Analysts widely agree that these talks are critical for fostering stability and preventing a deeper trade conflict. While concrete breakthroughs may be challenging, the fact that both nations continue to engage in dialogue is seen as a positive development.
The current talks are also viewed as a preparatory step for a potential summit later this year between U.S. President Donald Trump and Chinese President Xi Jinping. Such a meeting could be pivotal in cementing any significant agreements reached during these high-level negotiations. As officials continue their closed-door discussions, the international community watches closely for signs of progress that could bring greater predictability to global trade relations.
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