US-China trade talks end without deal as tariff deadline nears
US Treasury Secretary Scott Bessent and Trade Ambassador Jamieson Greer met Chinese officials in Stockholm over two days to discuss the way forward, but no agreement was reached. The talks were described as 'constructive' by both sides, and officials said discussions would continue.
Speaking to reporters after the meeting, Bessent said: 'We just haven't been given that signoff.' He added that President Donald Trump would have to make the final decision on whether to extend the current truce. 'The meetings were very productive,' Bessent said, according to CNN.
Greer echoed that view, saying: 'With respect to a potential pause, we're going to head back to Washington, DC, and we're going to talk to the president about whether that's something that he wants to do. It's certainly something that's under discussion.'
Without a deal, the United States and China could reinstate heavy tariffs that were previously in place before the current 90-day pause. Greer told CNN that tariffs on Chinese goods could rise by around 34 percent, although still below the peak rate of 145 percent seen earlier. In May, China had lowered tariffs on American goods from 125 percent to 10 percent, while the US reduced its tariffs on Chinese goods from 145 percent to 30 percent.
China's International Trade Representative, Li Chenggang, said both countries would 'continue to push for the scheduled extension,' according to Chinese state broadcaster CCTV.
However, Bessent disputed the suggestion that anything had been finalised. 'The Chinese deputy minister did say that we had agreed on a pause. We have not. Nothing is agreed until we speak with President Trump,' he said, as quoted by CNN.
Greer also clarified that 'the president has discretion to change the rate depending on the circumstances that we have.'
Speaking separately aboard Air Force One, President Trump told reporters he had just spoken with Bessent, who reported 'a very good meeting with China.' Trump added, 'He felt very good about the meeting, better than he felt yesterday,' according to Reuters.
Trump also said he expects to be briefed on the talks on Wednesday and would then decide whether to extend the tariff pause. He said he hoped to meet Chinese President Xi Jinping before the end of the year.
When asked about a possible trade deal with India, Trump said no agreement had been reached. He added, 'India has higher tariffs than almost any country,' Reuters reported.
As of now, no breakthrough has been made, and both sides remain under pressure to find a solution before the mid-August deadline.
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