U.S.-China trade talks end without extension of tariff truce
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After a “constructive” round of talks ahead of an Aug. 12 deadline, Treasury Secretary Scott Bessent said “nothing is agreed until we speak with President Trump.”
Beijing continues to defy U.S. sanctions as the leading importer of Iranian oil and the second-largest buyer of Russian crude, much of which is funneled through a growing fleet of untracked "ghost ships.
Bessent, speaking after two days of bilateral talks between the world's two largest economies in Stockholm, also told CNBC in an interview that U.S. officials urged China to shift their economy toward a consumer-based model rather than manufacturing.
Tariff talks between the US and China are winding down in Stockholm with expectations of a 90-day pause that would keep current rates in place and possibly pave the way for a Trump–Xi Jinping meeting later this year.
Gold prices edged higher on Tuesday as investors awaited the outcome of U.S.-China trade talks and the Federal Reserve's policy meeting. Spot gold rose 0.3% to $3,322.29 per ounce, by 12:16 ET (16:16 GMT).
12hon MSN
Chinese and U.S. trade officials have arrived for a second day of meetings in the Swedish capital Tuesday to try to break a logjam over tariffs that have skewed the pivotal commercial ties between the world’s two largest economies.