China and The U.S. continue tariff talks
News | By Easton Martin | July 29, 2025
U.S. and Chinese negotiators concluded two days of discussions in Stockholm on July 29, seeking to determine the future of their tariff truce.
Both sides described the talks as constructive, but no final agreement was announced. Commerce Secretary Howard Lutnick indicated that an extension of the pause is likely, though the final decision rests with President Trump.
The current truce, which began on May 12, reduced U.S. tariffs on Chinese goods from record highs of 145 percent to 30 percent, while China lowered its duties on U.S. imports to 10 percent. The temporary deal is set to expire on August 12 unless renewed.
The International Monetary Fund has claimed that American tariffs remain a drag on global growth and inflation, even with the pause in place. Economists caution that without a longer‑term settlement, tariffs could climb again, putting additional pressure on trade flows and global markets.
