Next week, Stockholm will serve as the backdrop for high-stakes trade negotiations between the United States and China, as officials aim to forge a path forward ahead of a looming deadline in the ongoing trade truce between the world’s two largest economies.
US Treasury Secretary Scott Bessent confirmed in an interview with Fox Business that he will meet with Chinese counterparts in the Swedish capital on Monday and Tuesday to discuss tariffs and expand the scope of existing agreements. The talks come as a temporary truce in the US-China trade war is set to expire on August 12.
“I will be in Stockholm on Monday and Tuesday with my Chinese counterparts, and we will work on what will likely be an extension [of the truce],” said Bessent, emphasizing the urgency to reach new terms.
The upcoming negotiations are expected to address not only tariff issues and China’s significant trade surplus with the United States, but also pressing concerns such as barriers to trade in rare earth minerals. In a notable expansion of the agenda, Bessent revealed that the talks may also address China’s procurement of oil from Russia and Iran—a subject with significant geopolitical implications.
Swedish Prime Minister Ulf Kristersson confirmed on Tuesday that preparations for the meeting are moving forward. “Sweden will host the continued trade negotiations between the US and China at the beginning of next week,” Kristersson wrote in a statement to SVT, the national broadcaster. “It is good that both countries want to meet in Sweden to seek consensus.”
While the immediate focus of the talks is bilateral relations, Kristersson stressed their broader significance for the global economy. “Protecting rules-based global trade and Sweden’s economic interests in a complicated world is one of the government’s top priorities,” he stated.
The Prime Minister also welcomed the delegations, adding, “I look forward to meeting the representatives of the United States and China on Swedish soil. Welcome to Sweden!”
As the international community watches closely, the Stockholm negotiations are poised to play a critical role in shaping the future of US-China economic relations and the wider landscape of global trade.