Overview

• Top economic envoys, including Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, meet in Stockholm for their third encounter this year
• The talks aim to prolong the current 30% US and 10% Chinese tariffs under a renewed 90-day truce set to expire on August 12
• Beijing is expected to press for the removal of the 20% fentanyl-related levy imposed by President Trump
• Washington plans to unveil new sectoral duties targeting semiconductors, pharmaceuticals and ship-to-shore cranes within weeks
• Failure to reach a deal by the deadline would risk a snapback to triple-digit duties and imperil planning for a late-year Trump-Xi summit