The US and China are expected to extend trade ceasefire until 90 days, the SCMP says
The US and China are expected to extend the tariff ceasefire for another three months, the South China Morning Post reported, citing an unknown source.
The two countries will not impose additional tariffs on each other during the extension, one source told the newspaper. The current suspension was to end on August 12th.
The report precedes trade talks between US Treasury Secretary Scott Bescent and China’s Deputy Prime Minister. He is scheduled to start in Stockholm on Monday.
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Bescent I said On Tuesday, he was hoping to emerge from the next round of negotiations this week. He said it would include a wider topic, including the purchase of oil from Beijing’s Russia and Iran.