China, U.S. Confirm Extension of Tariff Pause
(MENAFN) China and the United States confirmed on Tuesday an extension of the tariff and trade measure pause, Chinese trade chief Li Chenggang announced from Stockholm.
The breakthrough came after two days of negotiations in Sweden, led by Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent.
“Both sides had a comprehensive and in-depth exchange over each other’s macroeconomy,” Li told reporters in the Swedish capital.
“According to the consensus between China and the US, the two sides will continue to push for the continued extension of the pause on the 24% reciprocal tariffs on the US side, as well as the countermeasures on the Chinese side,” he added.
Li did not provide specific details regarding the new terms of the tariff pause.
The US had previously set an August 12 deadline for China to finalize a trade agreement. Other countries face an August 1 deadline before President Donald Trump’s unilateral tariffs come into effect.
The Stockholm talks followed similar meetings between He and Bessent in Geneva and London.
The two delegations “reviewed the implementation of the Geneva and London consensus and fully recognized implementation,” Li said.
He also confirmed that Chinese and American economic and trade teams “will continue to maintain close communication and have timely exchanges on trade and economic topics.”
“Both sides are fully aware of the importance of safeguarding a stable and sound China-US trade economic relationship,” Li said, characterizing the discussions as “candid and in-depth.”
The talks covered various trade and economic issues, with Li emphasizing that China “will continue to push for the stable and sound development of our bilateral trade and economic relationship.”
The US-China tariff conflict, initiated under Trump, has unsettled global markets but saw a temporary rollback of steep levies. Trump has since secured agreements with the UK, Japan, the EU, and other partners, with negotiations ongoing.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
