Trade officials from the US and China wrapped up their third round of negotiations in Stockholm, Sweden, on Tuesday, with a commitment to sustain the current “tariff ceasefire”—pending President Donald Trump’s approval.
“We’re heading back to Washington, DC, and will discuss with the president whether that’s his direction. Ultimately, he makes the decision,” remarked US Trade Representative Jamieson Greer during a press briefing in Stockholm.
“We’ll update him on the discussions we’ve had here. It was definitely a constructive meeting and we aim to return with positive feedback. However, the decision to extend the suspension is in his hands,” explained Greer.
Greer also noted in a social media comment that the Chinese approach to negotiations tends to be, well, “very practical.”
“There’s been a lot of tension over the years, and it still exists. Yet the regularity of our meetings to tackle these issues puts us in a good place for negotiations,” he added.
The US and China agreed to hold off most tariffs imposed on each other since May. Tariffs that once soared by 125% during trade conflicts were reduced to 20%, with an additional 10% reduction linked to the fentanyl crisis. China, in turn, implemented similar measures and agreed to refrain from additional trade restrictions.
Both parties presented the tariff ceasefire as an initial step towards establishing “sustainable, long-term, and mutually beneficial” trade relations—a goal that, as of now, remains unmet. The current tariff suspension is set to end on August 12.
Treasury Secretary Scott Bessent warned that if no extension is arranged by the deadline, the US tariffs on Chinese goods could revert to the triple-digit levels seen in April.
Bessent mentioned that trade teams from both nations are scheduled to reconvene in 90 days, emphasizing that the outcomes from the Stockholm discussions must be compelling enough to gain Trump’s approval for an extension.
Bessent described the past two days of discussions as “Full Sam” and “Constructive,” although he acknowledged some lingering obstacles. He suggested that the US is hoping for China’s agreement to reduce imports of oil from Iran. Both Greer and Bessent reportedly encouraged China to ease its state control and subsidies due to the nature of its export-driven economy.
“We established solid personal relationships and mutual respect. I think we now understand their objectives much better,” Greer remarked.
Bessent countered statements made by China’s trade representative, Li Chenggang.
“The Chinese Deputy Minister stated we’ve come to an agreement on a suspension, which isn’t accurate. Nothing will be agreed upon without consulting President Trump first,” Bessent contended.
Trump informed Air Force reporters that he would receive a comprehensive briefing on the talks on Wednesday.
“I just spoke with Scott Bessent. They had a productive meeting with China. I’ll get a full explanation tomorrow. We’ll approve it or not, but he was quite pleased with the meeting,” he stated.
