From July 28th to 29th local time, He Lifeng, the head of the Chinese side of the China-Us economic and trade cooperation and Vice Premier of The State Council, held China-Us economic and trade talks with the head of the US side, US Treasury Secretary Janet Bessant and Trade Representative David Greer in Stockholm, Sweden. The talks made new progress. The two sides conducted candid, in-depth and constructive exchanges on economic and trade issues of common concern such as China-Us economic and trade relations and macroeconomic policies. They reviewed and affirmed the implementation of the consensus reached at the China-Us Economic and trade Talks in Geneva and the London Framework.

According to the consensus reached during the talks, both sides will continue to push for the extension of the 24% portion of the US reciprocal tariffs that have been suspended and China's countermeasures for 90 days as scheduled. This decision extends the "90-day tariff truce" reached at the Geneva talks in May and avoids the risk of an escalation of the trade war after the truce expires on August 12.

Li Chenggang, the representative for international trade negotiations and vice minister of the Ministry of Commerce of China, made it clear in his summary that China's countermeasures "can be initiated at any time", but it prefers to solve the problem through dialogue. Us Treasury Secretary Janet Bessent had previously disclosed that the truce would be extended, with the aim of reserving space for subsequent negotiations.

In addition, the Chinese side stated that the economic and trade teams of China and the United States should take the important consensus reached during the phone call between the two heads of state on June 5th as a guide, uphold the principles of mutual respect, peaceful coexistence and win-win cooperation, respect each other's concerns, further consolidate the consensus and deepen mutual trust. The US side also stated that a stable US-China economic and trade relationship is of great significance to the economies of both countries and the world at large. It is willing to work with China to continue to resolve differences in the economic and trade field through the US-China economic and trade consultation mechanism, promote more consultation outcomes, and further stabilize US-China economic and trade relations.

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