According to a report, the United States and China could extend their customs break by another 90 days. As the newspaper ‘South China Morning Post’, which appears in Hong Kong, reports in the upcoming discussions in Stockholm, based on informed circles, want to achieve a corresponding defusing in the trade conflict.
At the talks starting tomorrow, US Finance Minister Scott Bessent will meet with high-ranking Chinese representatives. Bessent had already announced that the customs break will be negotiated by extension of the customs break that is currently still valid until August 12. The Chinese side is led by Vice Prime Minister He Lifeng.
Dispute goes beyond tariffs
Since April, the USA had increased import duties on Chinese goods in several steps to up to 145 percent. China reacted with counter -tariffs of up to 125 percent and exerted pressure with export controls for strategically important raw materials. In Geneva, both sides agreed on a 90-day suspension of the tariffs in May. Further talks followed in London in June.
Both sides are also economically under excitement beyond the tariffs. Among other things, China criticizes the US export controls for advanced semiconductors and AI chips, which make it difficult to access Chinese companies to the latest technology. The United States, in turn, accuse Beijing of the exports of critical raw materials.