US-China trade talks proceed in Sweden before tariff deadline

Officials from China and the United States gathered in Stockholm for a second day of renewed trade and economic negotiations, according to Africa News via the Associated Press on July 29th.

These discussions follow a previous meeting on July 28, during which Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent met for nearly five hours at the Swedish Prime Minister’s office. Neither party made a statement to the press after the meeting.

Both nations aim to extend a temporary pause on steep tariffs, first negotiated during the Geneva summit in May. The push for an extension reflects a shared urgency to ease the fallout from reported combined losses of $600 billion, disrupted supply chains, and widespread layoffs.

Under the current agreement, US tariffs on Chinese goods stand at 30%, while China has reduced its retaliatory tariffs on American exports to 10%.

If no new deal is reached, the existing truce will expire on August 12th.

Talks resumed following a June 5th call between Presidents Xi Jinping and Donald Trump, which helped lay the groundwork for this latest round of talks. 

In April, Trump heightened global tensions by unveiling his controversial “Liberation Day” tariffs, affecting multiple countries.

Since then, Trump has finalised tariff agreements with several key partners, including Japan, the United Kingdom, and most recently, the European Union. Still, the United States’ trade relationship with China remains tense and unresolved.

Despite this, US Treasury Secretary Scott Bessent expressed optimism, describing the negotiations as being in “a very good place.” 

In addition to the tariffs, these meetings in Sweden have also covered broader economic concerns—including Chinese investments in the US and the flow of fentanyl ingredients from China into the American market.

These discussions may also hint at whether a long-anticipated summit between Trump and Xi will take place later this year. Many view the event as pivotal to securing long-term agreements between the two nations, especially as the international community grows increasingly concerned about a global recession.

Africa News via Associated Press, Maghrebi.org