U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer concluded a constructive round of talks in Stockholm on Monday, as both nations sought to avoid a potential trade war escalation. The discussions, which took place ahead of the looming Aug. 12 deadline, were described as a positive step forward in negotiations that have been ongoing since earlier this year. However, Bessent reiterated that ‘nothing is agreed until we speak with President Trump,’ underscoring that any final agreement still requires the president’s approval before it can be enacted.
During the meetings, both sides reportedly exchanged views on various trade issues, including tariffs, intellectual property rights, and market access. While specific details of the discussion were not disclosed, officials from both countries expressed a shared interest in reducing tensions and finding a mutually beneficial agreement. The continued talks indicate that both the U.S. and China remain committed to resolving their trade disputes, albeit with a clear acknowledgment that the final decision rests with the U.S. administration.
The situation carries significant financial implications, as the ongoing trade tensions have already affected global markets. Investors are closely monitoring developments as any resolution could have far-reaching consequences for international trade and economic stability. Analysts suggest that a prolonged trade truce could provide temporary relief to global markets, although long-term resolution remains uncertain. With the deadline approaching, the U.S. administration is under increasing pressure to finalize a deal that satisfies both domestic and international economic interests.