Analysts expect China-U.S. trade talks in Stockholm to extend tariff truce
發佈日期: 2025-07-28 22:20
TVB News
China and the U.S. look set for new trade talks and a possible meeting between the two heads of state later this year.
Analysts say an extension of the tariff truce by 90 days could be part of a final deal.
This as the Trump administration considers imposing new sectoral tariffs within weeks that could affect products such as semiconductors, pharmaceuticals and ship-to-shore cranes.
U.S. President Donald Trump had said before he struck a major trade pact with the EU on Sunday that Washington is "very close to a deal" with Beijing.
Top officials from both sides are meeting on Monday in the Swedish capital in a bid to reach a durable tariff agreement beyond a mid-August deadline. Chinese Vice Premier He Lifeng and U.S. Treasury Secretary Scott Bessent will lead the delegations through Tuesday.
Previous trade talks in Geneva and London brought down their tit-for-tat tariffs from triple-digit levels.
The current U.S. levies on Chinese imports stand at 30 percent while China responded with a rate of 10 percent.
The flow of China's rare earths, Nvidia's H20 AI chips, and other goods have also been restored.
In Stockholm, China will likely seek a reduction of multi-layered U.S. tariffs that would amount to 55 percent, and a further easing of high-tech export controls from Washington.
The Chinese embassy in Washington noted that Beijing expects "more consensus and cooperation and less misperception" coming out of the talks.
Bessent already flagged a possible extension of the tariff detente, adding he wants to move on and delve into broader issues.
This include China's rebalancing away from exports to more domestic consumption, as well as the country's purchases of sanctioned Russian and Iranian oil.
To avoid derailing the talks with Beijing, the industry and security bureau of the U.S. Commerce Department, which oversees export curbs, had been told to avoid tough moves on China, according to a report in The Financial Times.
There's also speculation about a meeting with Trump and President Xi Jinping in late October.
Analysts pointed out this could be an opportunity to discuss what the Trump administration has long asserted: China's industrial overcapacity and its lack of controls over chemicals used to manufacture fentanyl.
Yet, some experts hold the view that joint cooperation between the two largest economies is key to addressing many of the world's pressing issues.
Stephen Orlins, president of the National Committee on U.S.-China Relations, said: "Chinese investment in the U.S. is a good thing, creates jobs in the United States, and makes the American people's lives better. So we need to decide what's national security. So, are EV batteries national security? I don't think so. Are solar panels national security? I don't think so."
He said, "The fundamental challenges that we face are pandemic, climate change, economic prosperity, management of AI. These things are only going to be solved if the U.S. and China cooperate."
