Stockholm: China and the US have reached an agreement to extend the pause on tariffs and other trade measures, announced Chinese trade official Li Chenggang during a news conference in Stockholm. This decision came after two days of discussions in Sweden led by Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent.

According to Anadolu Agency, the consensus allows for the continuation of the pause on the 24% reciprocal tariffs imposed by the US, as well as the corresponding countermeasures from China. Although Li did not provide specific details about the duration of the new pause, the agreement signifies an ongoing commitment to stabilizing trade relations between the two economic giants.

Previously, the US had set a deadline of August 12 for China to finalize a trade deal, with other nations required to do so by August 1 to avoid the imposition of unilateral tariffs by President Donald Trump. The Stockholm talks are part of a series of meetings, which have also included gatherings in Geneva and London, where both sides reviewed and acknowledged the progress made in implementing earlier agreements.

Li emphasized the importance of maintaining a stable China-US trade relationship, noting that both countries' economic teams will continue to engage in close communication on trade and economic issues. The discussions in Sweden were described as candid and aimed at fostering a stable and mutually beneficial economic relationship.

The ongoing trade tensions have been part of a larger tariff war initiated by Trump, which has disrupted markets globally. The US administration has successfully negotiated trade deals with several other nations, including the UK, Japan, and the EU, while continuing to engage in talks aimed at easing trade tensions.