Top trade officials from the United States and China gathered in Stockholm on Monday to begin two days of high-level talks aimed at reducing tensions between the world’s two largest economies over tariffs and trade policy. The meetings, hosted at the office of Swedish Prime Minister Ulf Kristersson, bring together U.S. Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer, and Chinese Vice Premier He Lifeng. This round of negotiations follows months of strain after President Donald Trump’s sweeping tariff proposals earlier this year that raised import taxes on Chinese goods to 145%, prompting retaliatory tariffs from Beijing and rattling global markets. Analysts believe these discussions could pave the way for a potential meeting later this year between Trump and Chinese President Xi Jinping, as both sides seek to extend the current 90-day pause on the punitive tariffs.
This Stockholm meeting is the third such dialogue in recent months, after previous rounds in Geneva and London, and focuses on stabilizing trade relations while exploring ways to rebalance economic ties. During the current pause, U.S. tariffs have been temporarily reduced to 30% and China has maintained a 10% tariff on American goods. Key issues on the table include addressing America’s nearly $300 billion trade deficit with China, opening the Chinese market to more U.S. products, and tackling structural concerns such as industrial overcapacity and chemicals used in fentanyl production. China is also expected to push for the removal of a 20% fentanyl-related tariff introduced by Trump earlier this year. The talks may touch on Beijing’s purchases of oil from Russia and Iran, while business leaders hope the meetings will set a constructive tone and lay the groundwork for a potential leaders’ summit later in the year. Both governments have framed these consultations around principles of “mutual respect, peaceful coexistence, and win-win cooperation,” but the outcome will depend on whether negotiators can maintain the fragile thaw in U.S.-China trade relations.