Are relations between the US and China warming up? The two sides are planning to extend their tariff truce for another 90 days. This scenario was mentioned during trade negotiations held in Stockholm, Sweden.

According to Chinese periodical South China Morning Post (SCMP), the temporary suspension of most tariffs, agreed upon in May, is set to expire on August 12. Currently, Washington and Beijing are engaged in a third round of talks. Both parties are working to reach a compromise on unresolved issues, including US concerns over China’s excess industrial capacity.

According to informed sources, neither the US nor China intends to impose new tariffs or escalate the trade conflict during the extended period. However, Beijing could seek clarification from Washington regarding the 20% tariffs imposed in March on Chinese goods.

Previously, US President Donald Trump stated that America was close to reaching a deal with China. Meanwhile, Chinese newspaper People’s Daily emphasized that Beijing remained ready to settle issues “through equal dialogue and mutual respect.”