US-China talks to restart as hopes grow for trade war truce extension
Summary
The US and China are set to begin new discussions, hoping to extend their current pause on increased import tariffs by another 90 days. This comes just after the US announced a trade agreement with the European Union, aiming to ease trade tensions.Key Facts
- The US and China are starting new trade talks on Monday in Sweden.
- The current 90-day pause on tariffs between the US and China ends on August 12.
- US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are leading the talks.
- The US and China had previously raised tariffs on each other's imports to over 100%.
- Last week, Bessent said talks with China were going well and might lead to another truce.
- The South China Morning Post reported that both countries expect to extend the truce by three months.
- The US recently made trade deals with the European Union and Japan, reducing some trade tensions.
- The US has also reached tariff agreements with the UK, Indonesia, and Vietnam.
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