China and the United States have agreed to maintain their current tariff arrangements, including the suspended 24% reciprocal duties and corresponding countermeasures, following constructive bilateral trade discussions in Sweden, China's Vice Minister of Commerce, Li Chenggang, announced on Tuesday evening (July 29).
The two-day talks in Stockholm, held July 28-29, marked the latest effort to implement the consensus reached during the June 5 phone conversation between Chinese and American leaders. Li, China's international trade negotiator, described the meetings as "candid, in-depth and productive," with both sides recognizing the importance of stabilizing economic relations amid global uncertainties.
Officials conducted comprehensive discussions on macroeconomic policies and reviewed the progress made since the previous negotiations in Geneva and London. "The economic teams will maintain close communication to promote the steady development of bilateral trade ties," Li told reporters after the meetings, while expressing appreciation for Sweden's facilitation of the discussions.
The agreement to extend the tariff suspension suggests temporary de-escalation in the trade standoff, though long-term solutions to core disputes remain unresolved. Observers note the Stockholm talks achieved their primary goal of preventing immediate regression in trade relations, with both sides buying time for further negotiations ahead of critical political events in their respective countries.
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