After two days of high-level negotiations, U.S. Treasury Secretary Scott Bessent and Chinese trade envoy Li Chenggang have concluded discussions on a possible extension of the 90-day tariff truce between the United States and China. However, no agreement has been reached, with both parties now awaiting a final decision from U.S. President Donald Trump.
The meetings, held in Stockholm, were part of ongoing efforts to ease trade tensions between the world’s two largest economies. While both sides emphasized the need for continued engagement, Secretary Bessent clarified that “nothing is agreed until discussed with President Trump.”
Mr. Li Chenggang stressed the importance of a stable and sound U.S.–China trade relationship, noting that both sides are aware of the strategic significance of long-term economic cooperation.
The tariff truce, originally brokered in May, saw both countries roll back steep tariffs—the U.S. reduced tariffs from 145% to 30%, while China cut its own from 125% to 10%, effective for an initial 90-day period. That period is set to expire next month, raising concerns over a potential return to heightened trade barriers if no extension is agreed upon.
As of now, the outcome hinges entirely on President Trump’s decision, which is expected in the coming days.
VietnamSteel Hoa Sen Group
