US Treasury Secretary Scott Bessent said yesterday that he will meet his Chinese counterpart next week in Stockholm and discuss what is likely to be an extension of an August 12 deadline for a deal to avert sharply higher tariffs.
Bessent told Fox Business Network’s Mornings With Maria program that trade with China was in “a very good place” and the meetings in Stockholm would take place next Monday and Tuesday.
“I think we’ve actually moved to a new level with China, where it’s very constructive and... we’re going to be able to get a lot of things done now that trade has kind of settled in at a good level,” Bessent said.
Swedish Prime Minister Ulf Kristersson confirmed in a post on X that Sweden will host the US-China trade talks early next week. “It is positive that both countries wish to meet in Sweden to seek mutual understanding,” Kristersson said.
China’s embassy in Washington did not immediately respond to a request for comment to confirm the planned meetings and Chinese participants.
Since mid-May, Bessent has met twice with Chinese Vice Premier He Lifeng in Geneva and London to work out and refine a temporary trade truce that dialed back duelling triple-digit retaliatory tariffs that threatened to cut off all trade between the world’s two largest economies.
US Trade Representative Jamieson Greer, Commerce Secretary Howard Lutnick, China’s Commerce Minister Wang Wentao and chief trade negotiator Li Chenggang also participated in those talks.
In talks so far, China has agreed to end its export ban on rare earth metals and magnets to the US, while the US agreed to restart shipments of semiconductor design software and production materials, as well as commercial aircraft engines and other goods to China.
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