China and the US agree to a tariff pause after negotiations

China and the United States agreed to extend their mutual suspension of trade tariffs after two days of bilateral negotiations in Stockholm , Chinese Vice Commerce Minister Li Chenggang said Tuesday.

During a press conference, Li detailed that both powers will continue implementing the tariff truce , which currently affects 24% of bilateral trade , while moving forward with resolving the trade dispute that has plagued economic relations between the two countries since 2018.

The agreement was reached just days before the August 12 deadline , thus avoiding the reactivation of previously imposed tariffs for now. While the exact length of the extension was not specified, U.S. President Donald Trump had previously indicated that it would be a 90-day truce .

The talks were described by Li as “frank and in-depth,” and he said both nations recognize the importance of maintaining stable and constructive trade relations . The meeting was attended by U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer .

Li said the 30% tariffs on Chinese goods and the 10% tariffs on U.S. goods will remain in effect, but will remain suspended , as part of the current agreement.

Since the previous truce, the United States had reduced its tariffs from 145% to 30% , while China did the same by reducing its tariffs from 125% to 10% on American goods.

“ According to the consensus between China and the United States, both sides will continue to push for the continuous extension of the pause,” Chenggang said, according to the state news agency Xinhua .

The talks took place at Rosenbad , the seat of the Swedish government in Stockholm, and followed previous meetings in London and Geneva , as well as a telephone conversation between Donald Trump and Xi Jinping on June 5.

Both sides agreed to continue negotiations in a fourth round , with the possibility of reviewing the duration of the truce and the terms of tariff reductions in strategic sectors such as technology, energy, and agriculture.