The US Finance Minister of Finance Minister Scott Bessent, left, speaks on Saturday, May 10, 2025, with Chinese Vice Prime Minister Lifeng, right, during a bilateral meeting between the United States and China in Geneva, Switzerland.
Keystone/EDA/Martial Trezzini | About Reuters
Finance Minister Scott Bessent said on Tuesday that he would probably spend an expansion of President Donald Trump's trading period with China if he will meet his Chinese colleagues in Stockholm next week.
The two sides in mid-May approved a 90-day suspension of most heavy tariffs to the goods of the others, while continuing the trade negotiations. This suspension will take place on August 12th.
“We will train in an FOX business interview in Stockholm during the talks in Stockholm on Monday and Tuesday, which is probably an extension”.
“I think the trade is in a very good place with China,” he said.
The Swedish Prime Minister Ulf Kristersson confirmed on Tuesday morning that his country would organize the recent discussions between Washington and Beijing.
“It is positive that both countries in Sweden want to meet to seek a mutual understanding,” said Kristson in a translated contribution to X.
“The talks primarily affect the relationship between the USA and China, but also have significant importance for global trade and the economy. Securing international trade and Sweden in a complex global environment is one of the highest priorities of the government,” he said.
Bessent said about Fox Business that he hoped that the conversations would address other areas of potential agreements, including Beijing, to slow down the “flood of manufacture they perform and to concentrate on building a consumer economy”.
The United States also wants to discuss “about the sanctioned Russian and Iranian oil they buy there, and what they do to help Russia” with the continued invasion of Ukraine.
“I think we are actually drawn to a new level with China, where it is very constructive,” he said. “We will be able to do a lot of things now that the trade has settled in at a good level.”
This obvious progress follows several rounds of discussion in which the United States and China were withdrawn at tariffs at Embargo level that threatened to build two of the world's leading trading partners.
Trump had collected tariffs for Chinese goods in April for an effective flat rate of 145%, since Beijing became the primary goal of the efforts of the new US administration to redesign the global trade landscape against its business partners by the softening of import duties.
China had retreated with 125% tariffs for US imports.
The two sides agreed to reduce their respective tariff rates by 115 percentage points after an initial discussions in Geneva in May.
In a subsequent meeting in London at the end of June, trade officers from Washington and Beijing confirmed their provisional agreement.
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