US-China trade deal: The world’s two largest economies are expected to extend their current reciprocal tariff truce by another 90 days, according to a Reuters report quoting South China Morning Post. Another round of trade deal negotiations between the Donald Trump administration and China will take place in Stockholm on Monday. The current pause on reciprocal tariffs ends on August 12.The report said that the two sides may agree to another 3-month truce as they agree as trade deal negotiations continue. The report indicates that during this 90-day extension period, both nations will commit to refraining from implementing new tariffs or taking additional measures that could intensify the ongoing trade dispute.During recent meetings in Geneva and London that centred on “de-escalation”, the upcoming discussions will see Chinese representatives addressing fentanyl-related tariffs with Trump’s trade officials, the Reuters report said.The upcoming Stockholm talks on Monday will mark the third round of discussions between the United States and China, aimed at resolving the economic disagreements that have fuelled their ongoing trade dispute.Unlike China, other countries have an August 1 deadline to finalise trade deals with the US. Trump has managed to seal trade deals with five countries ahead of his August 1 deadline – Vietnam, Japan, UK, Philippines, and Indonesia.Talks are currently underway with the European Union to come to an agreement on tariff rates that will be applicable on the EU.
