For the third time in as many months, US and Chinese officials will meet in Europe for trade talks — and this time, Beijing is arriving at the negotiating table more emboldened than ever.
Its firm grip on strategic minerals has compelled the Trump administration to roll back some export curbs on China, including a stunning reversal of the ban on sales of a key Nvidia AI chip.
Meanwhile, the Chinese economy has delivered better-than-expected growth months into the trade war, according to government data, posting a record trade surplus that underscores the resilience of its exports as they pivot away from the US market. And just a few days ago, Beijing reinforced its tough posture at a key summit with the European Union, offering little to address the bloc’s concerns spanning from trade imbalances to the Ukraine war.
When a new round of talks begins in Stockholm on Monday, Chinese negotiators led by Vice Premier He Lifeng are expected to greet their American counterparts with fresh confidence in Beijing’s uncompromising, hard-edged approach – and a growing appetite for further US concessions.
Treasury Secretary Scott Bessent, who’s leading the US delegation, said before the talks in the Swedish capital that the two sides would be working out a “likely” extension of their trade truce, which currently expires on August 12.
It was recently revealed that a US Commerce Department employee and a Wells Fargo executive have been banned from leaving China by the Chinese authorities, casting a shadow over the talks. US Commerce Secretary Howard Lutnick denounced the ban as “outrageous.” Nevertheless, Bessent struck a positive tone when announcing the latest round of negotiations, saying “trade is in a very good place with China.”
Bessent said the two countries would also discuss China’s purchase of “sanctioned” oil from Russia and Iran. On Thursday, Lutnick said the proposed spinoff of popular short-video app TikTok’s operation in the US, which is awaiting Beijing’s approval, would be part of the discussions as well.
Posted by John3262005