U.S. and China may extend tariff truce by 90 days

Washington and Beijing have agreed to work on extending their trade truce following two days of talks.

Despite no major breakthroughs, U.S. President Donald Trump says the talks were positive, adding that he expects to meet with his Chinese counterpart sometime this year.

Lee Seung-jae has this report.

Tensions in global trade may be easing slightly, as trade officials from the U.S. and China on Tuesday wrapped up two days of what they called "constructive" talks in Stockholm aimed at avoiding the return of steep tariffs that could rattle the world economy

Both sides agreed to pursue a 90-day extension of their current tariff truce, which is set to expire on August 12.

No major breakthroughs were announced after the talks, but according to reports, the tone from both sides was notably more positive.

While U.S. officials say it's up to President Donald Trump to decide whether to extend a trade truce, U.S. Treasury Secretary Scott Bessent shot down any prospects of the U.S. president rejecting an extension.

Speaking from Air Force One on Tuesday, Trump said he'll soon be briefed on the two-day talks, but added that Bessent felt "very good about the meeting."

Trump also confirmed plans for a possible summit with Chinese President Xi Jinping before the end of the year, adding that the Chinese leader "wants to meet."

Meanwhile, the U.S. is continuing trade talks with the European Union.

U.S. Commerce Secretary Howard Lutnick said talks are still ongoing around steel and aluminum duties, as well as digital services, but a major sticking point is the pharmaceuticals.

European officials are aiming to lock in a 15 percent cap on drug tariffs before Trump announces his own pharmaceutical policy, expected within two weeks.

With the August 1 deadline fast approaching, the final decision rests with Trump, as the U.S. and the European bloc look to avoid a major trade conflict.

Lee Seung-jae, Arirang News.