US and China Edge Toward Tariff Truce as High-Stakes Trade Talks Loom

The United States and China are preparing for a critical round of trade talks in Stockholm, with hopes rising that the current truce on tariffs will be extended beyond the looming August 12 deadline. Top officials, including US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, are set to discuss not only tariffs but also broader economic imbalances, such as China's heavy reliance on exports and its purchases of Russian and Iranian oil. Both sides appear motivated to avoid a new escalation in the trade war, signaling a shift toward a more constructive dialogue. Progress has been made, with some easing of tariffs and renewed cooperation on key exports, but a comprehensive deal remains elusive. The outcome of these talks could have significant implications for global supply chains and economic stability.