US-China Negotiations Seek to Ease Trade Tensions in Sweden

Stockholm, Sweden, Jul 28 (AP) — Key trade representatives from the United States and China have arrived in Stockholm for new discussions aimed at alleviating trade tensions between the two largest economies in the world.

US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng convened for talks at the office of Sweden's prime minister. Bessent indicated these discussions are likely to result in an extension of the existing tariff levels.

Experts suggest that this meeting could set the groundwork for a potential future summit between US President Donald Trump and Chinese President Xi Jinping. Such a meeting could solidify the recent easing of trade strains.

This meeting marks the third encounter this year between He and Bessent. It comes nearly four months after President Trump introduced significant tariff proposals that impacted global trade, including a sharp increase to 145 percent on tariffs for Chinese goods. China responded swiftly, causing temporary upheaval in global financial markets.

The Stockholm negotiations—preceded by similar meetings in Geneva and London—are poised to prolong a 90-day suspension of these tariffs. During this respite, US tariffs on Chinese goods were reduced to 30 percent, while China imposed a 10 percent tariff on American products.

The Trump administration, having recently reached a tariff agreement with the European Union, aims to address a trade deficit that totaled USD 904 billion last year, with nearly USD 300 billion attributed to the deficit with China.

The Chinese Commerce Ministry has expressed a desire for the Stockholm talks to foster "more consensus and cooperation" while minimizing misunderstandings. (AP)

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