The latest news on China-US trade negotiations is here, and it's not simple! On July 22, the US Treasury Secretary revealed that the US and China will hold trade talks in Sweden next week and will discuss extending the temporary tariff reductions between the two countries.
Indeed, China and the US should sit down and talk again, as August 1 and August 12 are approaching quickly. August 1 is the deadline for the US tariffs to take effect on countries around the world. The US Secretary of Commerce has already stated that regardless of whether an agreement is reached or signed, tariffs will begin to increase on August 1. August 12 is the last date for the China-US tariff truce.
There is an interesting indication that both China and the US hope to continue delaying the temporary tariffs. We do not want to engage in a tariff war with the US, and the US does not want to engage in a tariff war with us at this time. After all, President Trump has not fully secured tariff negotiations with other major economies, such as Japan, South Korea, the European Union, India, Brazil, and others. Unless these economies are completely suppressed, the US will not restart the China-US tariff war. After all, if the US goes to war with us while also going to war with countries around the world, it is highly likely to lead to a total collapse, where neither side can achieve anything, and it will be a futile effort.