Trump holds the ultimate decision-making power over any potential trade agreement with China, as asserted by Greer.
In the heart of Stockholm, Sweden, the US and China are engaged in a second day of negotiations aimed at extending their tariff truce, which was initially agreed upon in Geneva in May. The location of the talks is 'Rosenbad', seat of Sweden's government, and the negotiations started on July 28, 2025.
The talks are taking place under the watchful eyes of key officials from both countries. Vice Premier He Lifeng leads the Chinese delegation, while Treasury Secretary Scott Bessent heads the US team. U.S. Trade Representative Jamieson Greer has confirmed that any "final call" on any extension in the truce will be made by President Donald Trump.
The negotiations have been described as "constructive" by Secretary Bessent, who has emphasized that nothing has been agreed upon until they speak with President Trump. The aim of these talks is to avert tariffs from returning to sky-high levels that had ground trade between the two countries to an effective standstill.
The accord between China and the United States, reached in Geneva, brought down triple-digit tariffs each side had levied at the other. Currently, the truce between the two nations has temporarily set fresh U.S. duties on Chinese goods at 30 percent, while Chinese levies on trade in the other direction stand at 10 percent.
Indications suggest that both delegations want to use the Stockholm talks to push the date for the end of the 90-day truce back further. However, no details from the talks have been made public, and no new details have emerged since the talks ended without a resolution on July 29, 2025.
Despite the lack of a formal deal, both sides have moderated their rhetoric recently, indicating mutual interest in setting the conditions for a higher-level meeting between the presidents, possibly at the Asia-Pacific Economic Cooperation summit scheduled for October 30 to November 1, 2025.
The current status is one of cautious progress without a finalized trade deal, with ongoing dialogue intended to allow for more comprehensive negotiations in the months ahead. If no deal is made soon, tariffs on Chinese goods could sharply increase, potentially back to triple-digit levels.
[1] Bloomberg News, "U.S.-China Trade Talks in Stockholm Yield Constructive Results but No Deal Reached," July 29, 2025. [2] Reuters, "U.S.-China Trade Talks in Stockholm: What We Know So Far," July 29, 2025.
The discussions taking place at Rosenbad, the seat of Sweden's government, in Stockholm, involve key officials from both the US and China, as they aim to avert a return of sky-high tariffs and push back the end date of their 90-day truce in the general-news sphere of finance and business. Despite the constructive nature of the talks, no new details have been revealed yet, with both sides showing an interest in setting the stage for higher-level negotiations, possibly at the Asia-Pacific Economic Cooperation summit, in the realm of politics.
