China and U.S. extend tariff benefits for 3 months more

China and the United States extended their "tariff truce" for three month more after talks in Stockholm, the Sveriges Radio said.

"The United States and China agreed to extend the effect of tariff benefits. This statement was made after the two-day talks in Stockholm headed by US Secretary of Treasury Scott Bessent and Deputy Prime Minister of China He Lifeng," the radio station said.

Representatives of Washington and Beijing announced a mutual reduction of tariffs for 90 days according to results of talks in Geneva on May 10-11 (down to 30% for Chinese goods exported to the U.S. and 10% for U.S. goods supplied to China). The deadline of the transaction expired on August 12. Negotiations in Stockholm were held on July 28 and 29.