Caixin Global reports that the U.S. and China have agreed to extend a truce in their long-running trade conflict for another 90 days following high-level talks in Stockholm, Sweden this week.
The agreement, reached during two days of negotiations that concluded Tuesday, provides temporary stability in the fraught economic relationship between the world’s two largest economies. For businesses and global markets, the deal signals that both Washington and Beijing are, for now, prioritizing dialogue over the immediate re-escalation of a trade war that has disrupted supply chains and roiled markets since it began during President Donald Trump’s first term.
The talks in Sweden were led by Chinese Vice Premier He Lifeng, and his U.S. counterparts, Treasury Secretary Scott Bessent and Trade Representative Jamieson Geer. The meetings were described by both sides as “candid, in-depth, and constructive.”
Both sides agreed to extend the tariff pause for another 90 days on the 24% of reciprocal tariffs imposed by the U.S., as well as countermeasures adopted by the Chinese side. In early May, the two sides agreed on the first 90-day tariff truce which would expire next month.
The Stockholm round builds on previous meetings. The Chinese and U.S. negotiators reviewed and affirmed the consensus reached during earlier round of talks in Geneva and the implementation of the London framework, according to the state-run Xinhua news
agency.
Courtesy Caixin Global