US and China towards tariff deal, Bessent confirms Stockholm meeting

Reuters reports that through an interview for the “Mernings With Maria” on Fox Business Network, Bessent said trade with China is in “a very good point” and that meetings in Stockholm will take place on Monday and next Tuesday.

I think we've gone to a new phase with China, where everything is very constructive and we can do a lot now that trade has stabilised to a good level,” said Bessent.

The meeting has also been confirmed by Swedish Prime Minister Wolf Christersson through a post on the X platform.

We remember that since mid-May, Bessent has met twice with Chinese Deputy Prime Minister He Lifeng in Geneva and London to negotiate and improve a temporary trade ceasefire that temporarily cut the mutual penalties that threatened total trade cuts between the world's two largest economies.

During talks so far, China has agreed to lift the ban on export of rare metals and magnets to the US, while the US has agreed to resume exports of semi-skillers, production materials and engines of commercial aircraft, as well as other goods to China.

However, the parties have set a 90-day deadline to resolve deeper issues, including American complaints about the state-led and subsidised China economic model, which has created surplus production capacity by flooding world markets with cheap goods. China has denied accusations of subsidies, attributing its innovation exports to success. /Periscopi/