US and Chinese officials are meeting to extend their tariff detente beyond a mid-August deadline and discuss other ways to further defuse trade tensions. Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent will lead the delegations through Tuesday in Stockholm.

Stockholm

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

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Officials from the United States and China are meeting in Stockholm to continue trade negotiations, with both sides aiming to secure another extension to the current tariff truce. The talks involve the U.S. Treasury Secretary and China's Vice Premier, focusing on unresolved issues such as tariffs, rare earth minerals, advanced AI chips, and the ongoing sale of TikTok.

The discussions are taking place in a neutral location, reflecting efforts to avoid perceptions of either side conceding ground. While a final comprehensive trade deal remains elusive, reports suggest a 90-day extension to the truce is likely. Other topics on the agenda include China's purchase of fossil fuels from sanctioned countries and the potential for a future meeting between the U.S. and Chinese leaders.

U.S., China officials to meet in Sweden for trade talks

there's now sort of a sense of optimism in the air. I think the expectation is that we're likely to get another extension on the U.S.-China front, which implies there's no final deal yet. So what are still the sticking points between U.S. and China right now? Yeah, well, Gemma, I think there is a sort of open question as to conceptually what a final deal with the United States is on trade, but certainly the Chinese are further away from one than the Europeans from what they clinched over the last 24 hours. And the Chinese basically are trying to get another further extension on the runway for that trade deal that would expire, that truce that would expire on August the 12th. And just to remind everybody where we are, because it's hard to keep track of all of these numbers, the U.S. had imposed 125% tariffs on China. That basically foreclosed any ability to have any trading between the two biggest economies in the world. And that was sort of talked down to this truce. So now we're stuck at these 30% tariffs, 10 of which are sort of universal retaliatory tariffs, and 20% of which are from the sort of fentanyl tariffs that the Trump administration has put forward. What we will get today is the beginning of the third talks between the Vice Premier of China and the U.S. Treasury Secretary, Scott Besant, who will be here over the next couple of hours in Stockholm to have those negotiations. The desired outcome here is probably another 90-day extension truce to that truce. We have some reporting from the Chinese media that that is already basically almost fully secured. The question will be then what will come next? Where will they be able to make progress on the other issues that they would like to discuss and they would like to see some changes? There is, of course, the main sort of elephant in the room here, which is the rare earth minerals and those advanced AI chips that the U.S. has capitulated on agreed to sell to China in exchange for those rare earth metals. What they will also likely be discussing is the continued purchasing of crude oil and fossil fuels from Russia, from Iran, which are sanctioned by the G7 and the United States. And of course, there are some other issues like TikTok, right, there is the fact that the U.S. government, there is apparently a U.S. buyer for TikTok. That still needs a Chinese sign-off. So these are some of the conversations that will be happening here in Stockholm over the next couple of hours. Yeah. I mean, the thing about President Trump is he also likes to make a big show of having achieved these trade deals or getting to these trade agreements with various counterparts. And you've got to wonder whether in this case perhaps he's holding off to make that big announcement side-by-side with President Xi later this year. What do we know about the prospects of the two leaders meeting at some point? Yeah, so he definitely has an instinct for the sort of showmanship and the sort of TV production side of things. And I think that if you were to get a sort of momentous large deal between the Chinese and the United States, it is the sort of thing that Donald Trump probably himself would like to bring into being. I mean, this is basically what we saw with the EU, right? We had Ursula von der Leyen flying up to Scotland in order to have the person-in-person meeting so that Trump could announce it alongside her in person. So, I mean, the Chinese, we understand that there was a call between Xi Jinping and Trump. We understand that there has been an invitation extended to the President of the United States and the First Lady to come to China at some point. We are probably still some distance away from that. We should say that the fact that these discussions are happening between the Chinese and the United States in sort of neutral territory, it was in Switzerland, in the UK, and now in Stockholm, really wants to sort of demonstrate the idea that nobody wants to be seen to be being pulled in either one of the directions. So, I think we're probably still some distance away from that. That being said, this is the kind of announcement, Jumana, that, as you expect, you think that the President of the United States would like to make right next to the Premier of China to really have the sort of full impact of what would be really a momentous trade deal and really one of the most sort of important pledges of the Trump administration in that campaign, saying that basically he's going to solve the trade problem with China.

Thailand and Cambodia have agreed to an immediate ceasefire after days of deadly clashes at the border, Malaysian Prime Minister Anwar Ibrahim said Monday following a meeting with Cambodian Prime Minister Hun Manet and Thai Acting Prime Minister Phumtham Wechayachai.

Kuala Lumpur

Thailand, Cambodia agree to ceasefire after deadly border clashes

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Middle East Conflict

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Tel Aviv-Yafo

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Preah Vihear Province

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Manila

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Pangasinan

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Bangkok

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U.S., China officials to meet in Sweden for trade talks

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