Stockholm, July 28: Top trade officials from China and the US have met in Stockholm to ease tensions over trade between the two largest economies. US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are expected to lead to an extension of current tariff levels. Analysts suggest that the talks could set the stage for a possible meeting between US President Donald Trump and Chinese President Xi Jinping later this year to cement a recent thaw in trade tensions. The Stockholm meeting is set to extend a 90-day pause on tariffs, with US tariffs lowered to 30% on Chinese goods and China setting a 10% tariff on US products.
The Trump administration aims to reduce a trade deficit of USD 904 billion overall last year, including a nearly USD 300 billion trade deficit with China alone. China’s Commerce Ministry has expressed its desire for more consensus and cooperation from the Stockholm talks. (AP)
