Amid the conclusion of the third high-level trade negotiations between the United States and China in Stockholm, Sweden, the Chinese negotiation representative noted that the two countries agreed to push for an extension of the 'tariff ceasefire'.
According to state-run Xinhua News Agency, Li Chenggang, the representative for international trade negotiations and Vice Minister of China's Ministry of Commerce, said on the 29th (local time) that 'in accordance with the consensus between the two countries, both sides have decided to continue postponing the 24% reciprocal tariff from the U.S. and China's countermeasures.'
Vice Minister Li explained that 'during the past day and a half, the economic and trade teams from both countries have continued to fulfill the role of the U.S.-China economic and trade negotiation mechanism, as achieved by the leaders of the two countries in the June 5 currency exchange,' adding that they had 'engaged in in-depth, candid, and constructive exchanges on significant issues of mutual concern.'
'He said that the economic and trade teams of both countries will maintain close communication and exchange timely on economic and trade agendas, and continue to promote stable and healthy development in bilateral economic and trade relations.'
Previously, the United States and China engaged in the third high-level trade negotiations in Stockholm, Sweden, from the 28th to this day for two days.
On the U.S. side were Secretary of the Treasury Scott Bessent and Jamieson Greer, the representative of the U.S. Trade Representative (USTR), while on the Chinese side was Vice Premier He Lifeng. This meeting is the third high-level trade negotiation between the U.S. and China since the start of the Trump administration.
This round of negotiations was held as the deadline for the end of tariff reductions approaches on the 11th of next month, according to U.S. time.