U.S. Treasury Secretary: "U.S.-China Trade Talks Scheduled Next Week in Stockholm"

U.S. Treasury Secretary Scott Besant announced on the 22nd (local time) that the United States and China will hold their third high-level trade talks since the start of the second Trump administration next week in Stockholm, Sweden.

Secretary Besant stated in an interview with Fox Business that "I will be in Stockholm with my Chinese counterpart next Monday and Tuesday (the 28th and 29th)."

Confirming that the period for the ultra-high tariff reduction agreed on by the U.S. and China last May will expire on August 12, Secretary Besant added, "We will address what is likely an extension."

This appears to reflect the perception that an extension of the U.S.-China ultra-high tariff reduction is highly likely.

Previously, Secretary Besant attended the first and second U.S.-China trade talks as the U.S. representative, engaging in discussions with Chinese Vice Premier He Lifeng in Geneva last May and in London last month, respectively.

After the launch of the second Trump administration, the U.S. and China had engaged in a tariff standoff, but at the Geneva meeting in May, both sides agreed to drastically lower the tariffs (the U.S. had imposed 145% on China, and China 125% on the U.S.) by 115 percentage points each for 90 days.

Bobae Lee, Special Reporter for Hankyung.com newsinfo@hankyung.com