US-China set to resume Stockholm talks: From Xi-Trump meet to tariff truce, here's what to expect
Without a deal, U.S. duties could revert to triple-digit levels, posing risks to global supply chains. The talks follow a major U.S.-EU trade agreement on Sunday, in which the European Union accepted a 15% tariff on most of its goods exports to the U.S. and pledged $750 billion in energy purchases and $600 billion in investments. No such deal is expected from the U.S.-China side.
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'We're very close to a deal with China. We really sort of made a deal with China, but we'll see how that goes,' said President Donald Trump on Sunday, before announcing the EU agreement.
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Here's what to expect from US-China meet
According to a South China Morning Post report, both sides may agree to hold off on new tariffs or
export restrictions
for three more months. The U.S. Treasury declined to comment. Meanwhile, Financial Times reported that Washington has paused new export curbs on tech products to avoid disrupting negotiations, though Reuters could not verify that independently.
Earlier discussions in Geneva and London focused on reversing retaliatory tariffs and restoring trade in rare earth minerals and AI chips. However, structural issues—such as China's export-led model and U.S. tech controls—remain unresolved.
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US, China to launch new talks on tariff truce extension, easing path for Trump-Xi meeting
'I'd be surprised if there is an early harvest on some of these things but an extension of the ceasefire for another 90 days seems to be the most likely outcome,' Reuters quoted Scott Kennedy of the Center for Strategic and International Studies, as saying.
There is also speculation about a possible Trump-Xi meeting in late October. Sun Chenghao of Tsinghua University said such a summit could support mutual concessions. 'The future prospect of the heads of state summit is very beneficial to the negotiations because everyone wants to reach an agreement or pave the way in advance,' Sun said.
Beijing is expected to push for easing of U.S. tariffs and tech export controls. China argues that fulfilling past U.S. purchase commitments would help reduce the $295.5 billion trade deficit recorded in 2024.
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