Taking a notable step towards stabilizing stressful economic relations, after two days of bilateral trade talks in Stockholm, the United States and China have agreed to extend their current tariff sanctions. The announcement was made by China’s top trade officer Lee Chenggang, who described the discussion as creative and fair. Both sides have agreed to maintain the existing tariff rates, in which the US will continue to impose 30 percent tariffs on Chinese goods, while China will apply 10 percent tariff on US products. This expansion has been done at a time when tariff sanctions for 90 days were agreed during the Geneva talks in May, which is scheduled to end on August 12.
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Lee reported that a wide range of subtle economic issues was discussed in the discussion and both sides agreed to maintain close contact on economic and business matters. The subjects included the market access to American businesses, Chinese investment in the US, the ingredients of China, the constituents of the fantanel, Chinese energy imports from Russia and Iran, and US export restrictions on advanced techniques including AI-Saksham Chips. There was a conversation behind the closed doors at the Swedish Prime Minister’s Office. Prior to the second day of the conversation, Prime Minister Ulf Christorson met at breakfast with US Finance Minister Scott Besant and American Trade Representative Jamison Greer. It is being told that the first day of the conversation lasted for about five hours.
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Jamison Greer accepted the current stress in the comments shared on social media, but said regular meetings with China provide a positive basis. In the morning of MSNBC Joe, Gold said that I cannot say whether the agreement would be done or not. He further said that although nothing has been decided yet, the conversation is moving in the right direction. During the conversation at Stockholm, strict security arrangements were made on the city coast, making the audience eager to get a glimpse of the top-level delegation. The Swedish Prime Minister’s Office was equipped with American and Chinese flags, reflecting the global importance of conversation.