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Senior economic officials from the United States and China are set to meet Monday in Stockholm, as the Trump administration enters a crucial week of trade negotiations that could reshape global tariff policy.
Talks timed ahead of tariff deadlines
The meeting, featuring US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, is expected to focus on extending a 90-day pause in heightened tariffs. That temporary truce is due to expire on August 12.
The two-day discussions in Sweden mark the third round of negotiations since both countries imposed steep retaliatory tariffs in April, raising duties into the triple digits. Rates have since been reduced to 30 percent on US imports and 10 percent on Chinese goods, pending a longer-term resolution.
Global pressure mounts
Washington’s talks with Beijing come as dozens of US trading partners face looming tariff hikes on August 1. Countries such as Brazil and India could see duties on their exports jump from the current 10 percent to as high as 50 percent if no deal is reached.
Trump has already unveiled partial agreements with the EU, Britain, Japan, Vietnam, the Philippines, and Indonesia—though details remain scarce. The EU announced its deal Sunday, and South Korea is reportedly in a rush to finalize one.
Shifting tone since London
“There seems to have been a fairly significant shift in administration thinking on China,” said Emily Benson, strategy lead at Minerva Technology Futures. She pointed to recent London talks as a turning point.
“The mood now is much more focused on what’s possible to achieve and warming relations where possible,” she said.
Benson noted that some rare earth and semiconductor trade had resumed and that Bessent had signaled openness to delaying tariff hikes. “That’s promising, because it indicates something more substantive could be coming.”
Signals from Beijing and Washington
The South China Morning Post, citing sources on both sides, reported that a 90-day extension of reduced tariff levels is expected.
“An extension would show that both sides see value in continuing talks,” said Thibault Denamiel of the Center for Strategic and International Studies.
Sean Stein, president of the US-China Business Council, said a detailed readout from Stockholm is unlikely.
“What’s more important is the atmosphere coming out,” he said. “The business community is optimistic that the two presidents will meet later this year, hopefully in Beijing.”
Far from ideal, but a step forward
Sweden’s Prime Minister Ulf Kristersson welcomed the willingness of both sides to engage, calling it a “positive development.”
Still, experts warn that much of the progress has been patchy. “It’s a far cry from the ideal scenario,” said Denamiel, who emphasized that several trade partners outside Washington’s priority list risk being left behind.
Solid, broad-based partnerships are essential, he said, for the US to diversify supply chains, implement technology controls, and address China’s excess industrial capacity.
For now, global markets and foreign governments are watching Stockholm closely, with hopes that a new pause in tariffs could open the door to more durable agreements.
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