10:38 - 28.07.2025

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July 28, Fineko/abc.az. HP and the U.S. are likely to extend the tariff truce for another three months during negotiations in Stockholm, which open on Monday.

ABC.AZ informs, referring to newspaper South China Morning Post (SCMP), that during the 3rd round of trade negotiations, the two largest economies in the world will present their views on the main contentious issues, rather than achieve specific breakthroughs.

The SCMP reports that during the expected 90-day extension of the tariff truce, "both countries commit not to impose additional duties against each other and not to escalate the trade war in other ways".

In addition, Beijing is expected to put pressure on Washington "on the issue of duties related to fentanyl".

Beijing reportedly considers 20 percent duties on fentanyl "unfair," but "may be able to afford a 10 percent base duty on all imports if additional duties are lifted".

As a result of negotiations in Geneva on May 10-11 between representatives of the U.S. and China, it was announced that duties would be reduced by 115% for 90 days (starting on May 12) (up to 30% on Chinese goods imported into the U.S. and 10% on American goods supplied to China). This deal expires on August 12.

Last week, the head of the U.S. Treasury, Scott Bessent, said that the U.S. and China would discuss the extension of existing bilateral trade agreements in Stockholm on July 28-29. He gave positive assessment of Sino-American trade turnover, and added that talks could touch on a wider range of topics, including continued purchases of Russian and Iranian oil by Beijing.