The United States and China are resuming trade talks, "Reuters" reported. The meeting will be held today in Stockholm, with its main goal being to agree on an additional 90-day deferral of increased tariffs imposed by US President Donald Trump, News.bg reports.
China has until August 12 to conclude a permanent tariff agreement with the Trump administration, after the two sides already reached preliminary agreements in May and June.
According to trade analysts, it is unlikely that a final agreement will be reached during today's talks. However, a temporary extension of the deadline for another 90 days is expected, which would facilitate the organization of a potential meeting between Trump and Chinese President Xi Jinping in late October or early November.
The US administration is considering introducing new sectoral tariffs that could hit China within weeks. They include duties on semiconductors, pharmaceuticals, ship cranes and other goods.
Before signing the agreement with the European Union on July 27, Trump told the media that the US was "very close to a deal with China".
The "Financial Times" reports that Washington has frozen some restrictions on technology exports to China. The aim is to encourage today's talks and secure a future meeting between the leaders of the two economic powers.