US, China continue trade talks in Sweden

Officials from the U.S. and China continued trade talks in Stockholm, Sweden, on Tuesday in an effort to prevent tariff increases next month.

While the meetings might not result in any significant breakthroughs, the two countries could agree to another 90-day extension of a pause on increasing tariffs, such as what occurred in May, according to Reuters.

On Monday, the U.S. and Chinese delegations met for more than five hours at Rosenbad, the Swedish prime minister's office in central Stockholm. No statements were made by the officials following the meeting.

Treasury Secretary Scott Bessent arrived at Rosenbad on Tuesday morning, following a separate meeting with Swedish Prime Minister Ulf Kristersson. Chinese Vice Premier He Lifeng also arrived at the venue.

The U.S. set an Aug. 12 deadline with China to reach a tariff agreement, after preliminary deals were made in May and June.

If the two countries do not reach an agreement, then U.S. tariffs would return to triple-digit levels that amount to a bilateral trade embargo.

Trump said Monday that he was "not SEEKING" a summit with Chinese President Xi Jinping, as was being reported by the media.

"I may go to China, but it would only be at the invitation of President Xi, which has been extended. Otherwise, no interest!" Trump posted on Truth Social.