With the August tariff deadline approaching, US and Chinese officials will meet in Sweden
Gordon Chang, a senior fellow at the Gatestone Institute, has joined the US-China trade talks to consider China’s key warnings calling for AI and the US to promote Russian aggression.
Our top and Chinese officials This week, Sweden meets in high stakes efforts to secure a trade deal before the looming tariff deadline rekindles tensions between the two biggest economies of the world.
The talks that began around 9am ET are led by the US Secretary of the Treasury Scott Bett And China’s vice-prime minister is lifeng. They are focusing on marking the continuation of previous negotiations in Geneva and London, and extending the current trade ceasefire, which is due to expire on August 12th.
The Trump administration is competing to complete trade deals ahead of the August 1 deadline to reimpose the steep tariffs announced by the president in April. Last week, the president Donald Trump We have agreed with both the European Union and Japan – each currently set to face 15% tariffs on exports to the US
The talks that began around 9am ET are led by US Treasury Secretary Scott Bescent and Chinese Deputy Prime Minister by Lifeeng. (Photo: Al Drago / Getty Images / Getty Images)
But China, America’s biggest trading partner, remains the biggest question mark.
According to the South China Morning Post, both sides are expected to extend the August 12 deadline for another 90 days, increasing the time for negotiations. The Treasury declined to comment, but Bescent hinted last week that an update to “90-day increments” is under consideration.
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“Both sides are de-escarated and I think we can get into a very good rhythm of regular meetings with them,” Bescent said in a Bloomberg TV interview.
Trump on Sunday suggested that a breakthrough could be approaching.
“You know, we have a deal with Japan and are very close to dealing with China,” he said.
US Treasury Secretary Scott Bescent, US Trade Representative Jamieson Greer, China’s Deputy Minister of International Trade and Vice Minister of International Trade Li Chengan, and his vice-prime minister of China, met in Geneva in May. (Distribution materials via Keystone/EDA/Martial Trezzini/Reuters)
China’s Deputy Prime Minister His Lifeng arrives this week in Sweden for consultations with the US. (Fredrick Sandberg via TT News Agency/Reuters)
The list of topics for discussion is long. China’s important mineral export restrictions rely on the US to operate all kinds of technologies, stopping the flow of fentanyl derived from China, preventing US concerns about China’s Russian and Iranian oil purchases, and recent escapes from leaving US citizens. Experts suggest that they may also be on the table to transfer ownership of Tiktok to a US company.
Economic ties between Washington and Beijing appear to be thawing despite growing Indo-Pacific tensions as US military officials continue to prepare for a potential conflict with China.
Trump recently came to mind the idea of visiting China in the near future. In response, Beijing eased restrictions on rare earth magnet exports, while Washington gave Chinese companies a green light for Nvidia’s H20 semiconductor chips.
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In April, Trump surprised the market by sweeping out 145% tariffs on Chinese imports and urged an immediate response from President Xi Jinping, who slapped 125% tariffs on US goods. A temporary 90-day ceasefire has continued, with tariffs returning to about 30% of Chinese goods in the US and 10% of US exports to China.