Beijing's top trade official says China and the United States have agreed to work on extending a deadline for new tariffs on each other after two days of trade talks in Stockholm.

WASHINGTON: US Treasury Secretary Scott Bessent said on Friday (Aug 1) he believes Washington and Beijing are nearing a breakthrough trade deal following two days of negotiations in Stockholm.

Chinese and American trade negotiators concluded their two-day meeting in Stockholm without a clear path forward to avert tariffs from skyrocketing back to ultra-high levels that formed an effective blockade on trade between the world’s two largest economies.