US, China hold new talks on tariff truce in Sweden
US Treasury Chief Scott Bessent was part of a negotiating team that arrived at Rosenbad, the Swedish prime minister's office in central Stockholm, in the early afternoon on Monday.
China's Vice Premier He Lifeng was also seen at the venue on video footage.
China is facing an August 12 deadline to reach a durable tariff agreement with US President Donald Trump's administration, after China and the US reached preliminary deals in May and June to end weeks of escalating tit-for-tat tariffs and a cut-off of rare earth minerals.
Trump touched on the talks during a wide-ranging press conference with UK Prime Minister Keir Starmer in Scotland.
"I'd love to see China open up their country. So we're dealing with China right now as we speak," Trump said.
Without an agreement, global supply chains could face renewed turmoil from US duties snapping back to triple-digit levels that would amount to a bilateral trade embargo.
US Trade Representative Jamieson Greer said he did not expect "some kind of enormous breakthrough today" at the talks in Stockholm that he was attending.
"What I expect is continued monitoring and checking in on the implementation of our agreement thus far, making sure that key critical minerals are flowing between the parties and setting the groundwork for enhanced trade and balanced trade going forward," he told CNBC.
The Stockholm talks follow Trump's biggest trade deal yet with the European Union on Sunday for a 15 per cent tariff on most EU goods exports to the United States.
Trade analysts said another 90-day extension of a tariff and export control truce struck in mid-May between China and the United States was likely.
An extension would facilitate planning for a potential meeting between Trump and Chinese President Xi Jinping in late October or early November.
The Financial Times reported on Monday that the US had paused curbs on tech exports to China to avoid disrupting trade talks with Chinese officials and support Trump's efforts to secure a meeting with Xi this year.
Previous US-China trade talks in Geneva and London in May and June focused on bringing US and Chinese retaliatory tariffs down from triple-digit levels and restoring the flow of rare earth minerals halted by China and Nvidia's H20 AI chips, and other goods halted by the United States.
So far, the talks have not delved into broader economic issues.
They include US complaints that China's state-led, export-driven model is flooding world markets with cheap goods, and Chinese complaints that US national security export controls on tech goods seek to stunt Chinese growth.
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US President Donald Trump has formally opened a new golf course at his sprawling property in Scotland, saying he would play a quick round before heading home to focus on addressing crises in the Middle East and elsewhere. Trump, wrapping up a five-day visit to Scotland, was joined by former football players, golfers and business leaders for a first round of golf at his new second 18-hole course at Trump International near Aberdeen, Scotland. Initially billed as a private visit, the trip quickly morphed into a diplomatic mission, including a trade agreement sealed with European Commission President Ursula von der Leyen, bilateral meetings with British officials and phone calls aimed at ending a nascent war between Cambodia and Thailand. During a meeting with British Prime Minister Keir Starmer on Monday, Trump raised pressure on Israeli Prime Minister Benjamin Netanyahu over a worsening hunger crisis in the war-torn Palestinian enclave of Gaza. 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US President Donald Trump has formally opened a new golf course at his sprawling property in Scotland, saying he would play a quick round before heading home to focus on addressing crises in the Middle East and elsewhere. Trump, wrapping up a five-day visit to Scotland, was joined by former football players, golfers and business leaders for a first round of golf at his new second 18-hole course at Trump International near Aberdeen, Scotland. Initially billed as a private visit, the trip quickly morphed into a diplomatic mission, including a trade agreement sealed with European Commission President Ursula von der Leyen, bilateral meetings with British officials and phone calls aimed at ending a nascent war between Cambodia and Thailand. During a meeting with British Prime Minister Keir Starmer on Monday, Trump raised pressure on Israeli Prime Minister Benjamin Netanyahu over a worsening hunger crisis in the war-torn Palestinian enclave of Gaza. Asked at Tuesday's event what he would say to Netanyahu, Trump said he was trying to get things "straightened out". During his talks with Starmer, Trump said he disagreed with Netanyahu's assessment there was no starvation in Gaza, while giving Russian President Vladimir Putin a much tighter deadline to make progress towards ending the war in Ukraine. Flanked by his two sons, Eric Trump and Donald Trump Jr, with several grandchildren nearby, Trump raved about the beauty of the new golf course in the dunes of northeastern Scotland, before teeing off. "I look forward to playing it today. We're going to play it very quickly, and then I go back to (Washington) DC and we put out fires all over the world," he said at a ribbon-cutting ceremony for the new course, alluding in part to a ceasefire between Thailand and Cambodia. "We stopped a war - we've stopped about five wars. So that's much more important than playing golf." Several nations have nominated Trump for the Nobel Peace Prize, a message endorsed by White House press secretary Karoline Leavitt in a social media post in recent days. Golfers Paul McGinley and Rich Beem teed off with Trump and his son Eric, and an eclectic mix of notable figures followed. Former Chelsea and AC Milan striker and top Ukraine goal-scorer Andriy Shevchenko, who is now the president of his country's football association, was a guest, as were fellow ex-football players Robbie Fowler, Gianfranco Zola and Jim Leighton. Scottish First Minister John Swinney, who met with Trump earlier on Tuesday, also attended, along with Adrian Mardell, the chief executive of Jaguar Land Rover, and Alastair King, the Lord Mayor of the City of London, who represents Britain's finance industry.
