A possible extension of a tariff pause between america and China is not going to be agreed to till President Donald Trump indicators off on the plan, U.S. negotiators mentioned Tuesday.
Trump “has closing say on all of the commerce offers” and the pending tariff truce, Treasury Secretary Scott Bessent advised CNBC’s Eamon Javers.
The remarks got here after high commerce officers for the 2 international locations concluded talks in Stockholm, Sweden, their third spherical of high-level discussions since Might.
“We’ll head again to Washington, D.C. We’ll speak to the president about whether or not that is one thing that he desires so do,” U.S. Commerce Consultant Jamieson Greer advised reporters following the talks.
Trump, talking to reporters on Air Drive One across the similar time, mentioned he would get a briefing Wednesday on the standing of the negotiations.
U.S. Commerce Consultant Jamieson Greer speaks subsequent to U.S. Treasury Secretary Scott Bessent throughout a press convention at authorities quarters Rosenbad after the commerce talks between the U.S. and China concluded, in Stockholm, Sweden, July 29, 2025.
Magnus Lejhall/tt | By way of Reuters
“I simply had a telephone name from Scott Bessent. They’d an excellent assembly with China, and it appears that evidently they are going to transient me tomorrow,” Trump mentioned.
“We’ll both approve it or not. However he felt excellent concerning the assembly, higher than he felt that he felt yesterday,” he mentioned.
Chinese language commerce negotiator Li Chenggang earlier mentioned that the 2 sides agreed to proceed to push for an extension of a 90-day pause on many of the U.S. “reciprocal” tariffs on Chinese language items, in addition to most of Beijing’s retaliatory measures.
That pause is at the moment set to run out Aug. 12.
Bessent advised reporters after Tuesday’s talks that if an extension just isn’t reached by the deadline, then U.S. tariffs on Chinese language items will shoot again as much as their April ranges.
“We name it boomeranging,” Bessent mentioned.
He mentioned the commerce groups will possible meet once more in one other 90 days.
Trump on April 2 mentioned he would impose a 34% blanket responsibility on Chinese language items as a part of the sweeping international tariff rollout that he dubbed “liberation day.”
Per week later, he mentioned he would hike the China tariffs to 125% — and that got here on high of 20% fentanyl-related tariffs that Trump had beforehand imposed. China retaliated with its personal steep tariffs on U.S. items.
Either side agreed to pause many of the tariffs in Might, after their first commerce assembly in Geneva, Switzerland.
Bessent gave a constructive, however opaque, evaluation of the ground tremor talks. He mentioned the 2 sides’ positions are getting extra “refined” and recommended that their discussions have led to a rise in mutual respect and understanding.
However he mentioned that the U.S. just isn’t happy with China persevering with to purchase oil from Iran – despite the fact that Trump gave Beijing his blessing to take action final month.
Bessent additionally mentioned that the negotiators didn’t focus on TikTok, the Chinese language-owned social media app whose destiny within the U.S. has been in flux for the reason that enactment of a legislation that will ban it until it’s bought.
“We’re very cautious to maintain commerce and nationwide safety separate,” he mentioned.
Commerce talks between the U.S. and China, the world’s two largest buying and selling nation’s, are continuing on a separate observe from the remainder of Trump’s efforts to shortly reshape America’s international commerce relationships.
Commerce Secretary Howard Lutnick confirmed on CNBC’s “Squawk Box” earlier Tuesday that Trump’s tariff charges for dozens of nations, which had been repeatedly paused, are set to restart Friday.
Bessent, requested by CNBC’s Javers about that looming tariff deadline, recommended that it shouldn’t be a significant concern as a result of the affected international locations can proceed to barter with the U.S.
“I might assume that it isn’t the tip of the world if these snapback tariffs are on for anyplace from a couple of days to a couple weeks, so long as the international locations are transferring ahead and making an attempt to barter in good religion,” he mentioned.