Latest news with #Niklas Swanstrom
Yahoo
17 hours ago
- Business
- Yahoo
U.S. and China Extend Tariff Pause Another 90 Days
Ahead of trade talks in Stockholm that are set to begin today, The South China Morning Post reports that, according to sources close to the matter on both sides, the US and China are set to extend their tariff truced by another three months. China and the United States agreed in May to remove most of the heavy tariffs levied on each other's goods for 90 days while continuing trade negotiations. That suspension is set to expire on August 12. SCMP reports that one source said that, during the expected 90-day extension, the two nations will commit to not impose additional tariffs on each other, nor escalate the trade war by other means. People's Daily, the mouthpiece of China's ruling Communist Party, said in an editorial on Sunday that Beijing was willing to work with Washington to make "substantive progress" in resolving issues during the coming trade talks in the Swedish capital. the newspaper said. "It is willing to work with the US to take the economic and trade talks in Sweden as an opportunity to continuously enhance consensus, accumulate mutual trust, reduce misjudgments and strengthen cooperation." While analysts have welcomed the continuation of discussions, most do not expect any sweeping changes to emerge from the negotiations in Stockholm. Niklas Swanstrom, director of the Institute for Security and Development Policy, a think tank based in Stockholm, said ahead of the talks. By More Top Reads From this article on
South China Morning Post
2 days ago
- Business
- South China Morning Post
China and the US wanted Sweden to host their next round of trade talks – why?
Chinese and American negotiators will gather in Stockholm for a much-anticipated third round of trade talks on Monday, putting the Swedish capital in the spotlight and prompting questions as to why the Scandinavian country was the venue of choice for the world's two biggest economies. It began at a meeting of finance chiefs from the Group of 20 countries in South Africa earlier this month, where Sweden had been invited for the first time. Both China and the US approached the delegation from Stockholm about holding the talks in the capital, said Swedish Finance Minister Elisabeth Svantesson in a July 22 social media post. 'That the world's largest economies turn to us shows that Sweden enjoys great international trust – and that we play an important role in fostering dialogue and cooperation.' Hosting US-China trade negotiations in third countries is a marked change from the dialogues that put a temporary freeze on the bilateral trade war during the first term of US President Donald Trump. Those talks were principally held in Washington, with then-Vice-Premier Liu He making regular visits to the White House. Now, neutral territory has been selected in Europe – Geneva in May, London in June and Stockholm for the coming negotiations – suggesting a more level playing field between the two economies, according to Niklas Swanstrom, director of the Institute for Security and Development Policy in Stockholm.
