US and China concluded two days of trade talks in Stockholm, agreeing to explore extending a tariff deadline beyond August 12th. While China stated an agreement to work towards an extension, the US indicated it was discussed but not finalized. Discussions covered various concerns including China's oil purchases from Iran and technology exports to Russia. The US aims to reduce trade deficits and boost domestic manufacturing. A potential Trump-Xi meeting is under consideration, though not directly discussed in Stockholm. Current tariff levels, significantly lower than previously proposed, may be extended.

Prepared by Christopher Adams and reviewed by editorial team.