United States says Trump has final say on China trade deal

(Patria) - China and the United States agreed on Tuesday to hold further talks on extending the tariff truce, but a senior US trade official stressed that President Donald Trump would make any "final decision", AFP reported.

The world's two leading economies have been negotiating in Stockholm for two days, with both sides seeking to prevent a return to the high tariffs that brought their trade to an effective standstill.

The meeting at the Swedish government building, led by Vice Premier He Lifeng on the Chinese side and Finance Secretary Scott Bessent on the American side, concluded without resolution but with expressions of optimism from the US side.

Neither government has released details of the talks, which began on Monday, although US trade representative Jamieson Greer said Trump would have the "final decision" on any extension of the truce.

"Nothing is agreed until we talk to President Trump," Bessent added, calling the tone of the talks "very constructive".

The negotiations come after a trade deal reached over the weekend that set US tariffs on most EU imports at 15 percent, but not on US goods going the other way.

The truce between China and the United States had temporarily set new US tariffs on Chinese goods at 30 percent, while Chinese tariffs on trade the other way were 10 percent. That deal, struck in Geneva in May, lowered the triple-digit tariffs each side had imposed on the other after the trade war Trump triggered devolved into bilateral escalation.

The 90-day truce is due to expire on August 12. But there are indications that both delegations want to use the Stockholm talks to push the date further back. The South China Morning Post, citing sources on both sides, reported on Sunday that Washington and Beijing are expected to extend their tariff pause for an additional ninety days.

Trump said Bessent would brief him again on Wednesday. "We'll either approve it or we won't," he told reporters on Air Force One as he flew back from Scotland.

Trump's threats

Separately, Trump has threatened to hit dozens of other countries with tougher tariffs from Friday this week if they do not reach trade deals with Washington.

Among them are Brazil and India, with the South American giant facing the threat of 50 percent tariffs. Asked about the Friday deadline, Bessent told CNBC: "It's not the end of the world if these retaliatory tariffs last from a few days to a few weeks, as long as countries are making progress and trying to negotiate in good faith."

Trump has already announced draft agreements with five countries – the United Kingdom, Vietnam, Japan, Indonesia and the Philippines, as well as one with the European Union.

Beijing says it wants to see "reciprocity" in trade with the US. Foreign Ministry spokesman Guo Jiakun said dialogue was needed "to reduce misunderstandings".

A previous round of China-US talks was held in London.