US Edition
U.S. and China Working on Extension for Tariff Deadline
SWEDEN, JUL 23 – Negotiations in Stockholm aim to extend a 90-day tariff suspension set to expire Aug. 12 and address China's export-driven economy and sanctions on Russian and Iranian oil.
- U.S. Treasury Secretary Scott Bessent is scheduled to hold talks in Stockholm next week with his Chinese counterpart to deliberate on a possible extension of the August 12 deadline for tariff increases.
- This meeting follows a 90-day trade truce aimed at dialing back retaliatory tariffs and arises amid efforts to address broader issues including China's manufacturing overcapacity.
- The talks will also potentially cover China's continued purchases of sanctioned Russian and Iranian oil, while the U.S. is poised to announce multiple trade deals with other countries like Japan despite its recent election setback.
- Bessent indicated that, without an agreement, tariffs could revert to rates seen before April 2, rising from the existing 10%. He also highlighted bipartisan backing in the U.S. Senate for a bill proposing 100% tariffs on imports from nations that continue purchasing Russian oil, such as China and India.
- The likely extension of the deadline suggests ongoing constructive relations with China, with hopes the country will reduce manufacturing excess and focus on building a consumer economy.
71 Articles
71 Articles
The deadline for tariffs between the US and China to return to higher levels could be extended for another 90 days, according to US Treasury Secretary Scott Bessent on Wednesday, on the eve of the trade talks scheduled for next week. Senior officials from the world’s two largest economies are expected to meet on Monday and Tuesday in Sweden. Bessent will be part of the US delegation, while Chinese Deputy Prime Minister He Lifeng will attend on b…
Beijing confirms that He Lifeng, the vice premier, will attend trade talks with the United States in Stockholm next week. “He Lifeng will travel to Sweden from July 27 to 30 to hold economic and trade talks with the United States,” a spokesperson for China’s Ministry of Commerce said in a statement. The meeting in Stockholm was announced by...
China expressed its willingness to move forward in the trade dialogue with Donald Trump and the United States, but stressed that any negotiations should be based on “equality, mutual respect and reciprocity” in view of the round of talks that both sides plan to hold next week in Stockholm. Chinese Foreign Ministry spokesman Guo Jiakun said on Wednesday, July 23, that “China has always maintained a consistent and clear position on economic and tr…
US Secretary of Treasury Scott Bessent stated Tuesday that it is likely that the deadline imposed on China by the Trup administration on trade tariffs will be extended. He will continue to meet in Stockholm next week with his Chinese counterparts for new bilateral discussions.
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