Chinese Vice Commerce Minister Li Chenggang reportedly said that the two sides will continue to maintain communication and have “timely exchanges” on trade and economic issues.
The U.S. and China have reportedly agreed to extend the tariff truce between the two countries as the trade talks in Stockholm come to an end on Tuesday.
According to a report by NBC News, Chinese Vice Commerce Minister Li Chenggang said the ongoing tariff truce between the two sides that has kept tariffs at 30% for goods shipped from China to the U.S. will continue. He did not specify how long the extension would be.
According to Li, the US-China talks in Stockholm were candid and in-depth. He added that the two sides will continue to maintain communication and have “timely exchanges” on trade and economic issues, according to Reuters.
U.S. markets were in the red in midday trade on Tuesday. The SPDR S&P 500 ETF (SPY) was down 0.2% while the SPDR Dow Jones Industrial Average ETF (DIA) fell 0.43%. On Stocktwits, retail sentiment around both SPY and DIA remained ‘bullish’ territory over the past day.
The Invesco QQQ Series 1 Trust (QQQ), which tracks the tech-heavy Nasdaq 100, edged 0.04% lower. Retail sentiment on Stocktwits dipped lower within the ‘bullish’ zone.
The talks, led by U.S. Treasury Secretary Scott Bessent and Chinese Vice-Premier He Lifeng, came ahead of the August 12 deadline of the 90-day tariff suspension, agreed upon in May during the first round of negotiations.
U.S. Commerce Secretary Howard Lutnick said on Monday there would likely be a 90-day extension of the existing trade truce during the latest round of talks between the U.S. and China, following previous rounds in Geneva in May and London in June.
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