The US and China have agreed to a one-year delay on expanding trade sanctions and export controls, including halving fentanyl tariffs and resuming soybean imports, as part of a broader détente to ease tensions and work towards future agreements, including TikTok operations.
Donald Trump and Xi Jinping agreed to extend a tariff truce, reduce tariffs on fentanyl-related goods from 20% to 10%, and resume trade in farm products, aiming to stabilize US-China relations after months of tension, though key issues like TikTok and energy cooperation remain unresolved.
US and Chinese officials are meeting in Stockholm to extend their trade truce, discuss tariffs, fentanyl-related trade issues, and energy imports, with potential for broader agreements that could influence future US-China relations and a possible summit between President Trump and Xi Jinping.