U.S., China Set to Hold Trade Negotiations in Stockholm
(MENAFN) Beijing confirmed on Wednesday that China and the United States will engage in trade negotiations next week in Stockholm as the countdown to a critical tariff agreement nears.
The Chinese delegation will be led by Vice Premier He Lifeng during talks scheduled from July 27 to 30, according to the Commerce Ministry.
This announcement follows US Treasury Secretary Scott Bessent’s statement on Tuesday, indicating that the US expects to discuss extending President Donald Trump’s tariff deadline during the upcoming meetings in Stockholm.
Bessent stated that the deadline expires on August 12 and that he "will be working out what is likely an extension.”
In May, both nations agreed to a temporary 90-day halt on punitive tariffs to allow ongoing discussions.
“I think trade is in a very good place with China,” Bessent commented. “We’ve actually moved to a new level with China, where it’s very constructive.”
He further expressed hopes that China will "pull back on some of this glut of manufacturing that they're doing and concentrate on building a consumer economy," while also addressing "the sanctioned Russian and Iranian oil … and what they’re doing to aid Russia” amid the Ukraine conflict.
Pulitzer Prize-winning journalist Andrew Browne observed that China has "completely outplayed the Trump administration on trade."
Having lived and worked in China until 2018, Browne described the ongoing trade relations between Washington and Beijing as a “truce.”
"Both sides have recoiled from this (tariff war). It was going to have enormous damage, both to their own economies and, of course, to the global economy since the two of them combined are 50% of global GDP," Browne explained during a TV program.
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