US, Chinese Economic Officials Hold Five-Hour Talks in Stockholm

TEHRAN (Defapress) - Senior US and Chinese economic officials held more than five hours of talks in Stockholm on Monday to resolve long-standing economic differences at the center of the trade war between the world's two largest economies and extend a trade truce for 3 months.

US Treasury Secretary Scott Bessent, part of the US negotiating team, arrived at the Swedish Prime Minister's office in central Stockholm. Chinese Vice Premier He Lifeng was also present.

China has until August 12 to reach a lasting tariff agreement with the Donald Trump administration. The talks come after Beijing and Washington reached preliminary agreements in May and June to end weeks of retaliatory tariffs and curb exports of rare minerals.

Negotiators from both sides left the office around 1800 GMT and did not speak to the media. The talks are expected to resume on Tuesday.

“I would like to see China open up to the world,” Trump said at a press conference with British Prime Minister Keir Starmer in Scotland, referring to the talks.

U.S. Trade Representative Jamieson Greer, who was at the Stockholm talks, told CNBC he did not expect “major progress” in the talks. “What I expect is continued monitoring and review of the implementation of our agreement so far, ensuring the flow of vital minerals between the parties and paving the way for improved and balanced trade in the future,” he added.

The Stockholm talks come after Trump’s biggest trade deal with the European Union on Sunday to impose a 15 percent tariff on most EU goods exported to the United States.

If the two countries fail to reach an agreement, global supply chains could be thrown into chaos again as U.S. tariffs are reimposed.