U.S.-China trade talks end without extension of tariff truce, as Trump weighs options

A imaginable hold of a tariff pause betwixt the United States and China volition not beryllium agreed to until President Donald Trump signs disconnected connected the plan, U.S. negotiators said Tuesday.

Trump "has last accidental connected each the commercialized deals" and the pending tariff truce, Treasury Secretary Scott Bessent told CNBC's Eamon Javers.

The remarks came aft apical commercialized officials for the 2 countries concluded talks successful Stockholm, Sweden, their 3rd circular of high-level discussions since May.

"We're going to caput backmost to Washington, D.C. We're going to speech to the president astir whether that's thing that helium wants truthful do," U.S. Trade Representative Jamieson Greer told reporters pursuing the talks.

Trump, speaking to reporters connected Air Force One astir the aforesaid time, said helium would get a briefing Wednesday connected the presumption of the negotiations.

"I conscionable had a telephone telephone from Scott Bessent. They had a precise bully gathering with China, and it seems that they're going to little maine tomorrow," Trump said.

"We'll either o.k. it oregon not. But helium felt precise bully astir the meeting, amended than helium felt that helium felt yesterday," helium said.

Chinese commercialized negotiator Li Chenggang earlier said that the 2 sides agreed to proceed to propulsion for an hold of a 90-day intermission connected astir of the U.S. "reciprocal" tariffs connected Chinese goods, arsenic good arsenic astir of Beijing's retaliatory measures.

That intermission is presently acceptable to expire Aug. 12.

Bessent told reporters aft Tuesday's talks that if an hold is not reached by the deadline, past U.S. tariffs connected Chinese goods volition sprout backmost up to their April levels.

"We telephone it boomeranging," Bessent said.

He said the commercialized teams volition apt conscionable again successful different 90 days.

Trump connected April 2 said helium would enforce a 34% broad work connected Chinese goods arsenic portion of the sweeping planetary tariff rollout that helium dubbed "liberation day."

A week later, helium said helium would hike the China tariffs to 125% — and that came connected apical of 20% fentanyl-related tariffs that Trump had antecedently imposed. China retaliated with its ain steep tariffs connected U.S. goods.

Both sides agreed to intermission astir of the tariffs successful May, aft their archetypal commercialized gathering successful Geneva, Switzerland.

Bessent gave a positive, but opaque, appraisal of the latest talks. He said the 2 sides' positions are getting much "refined" and suggested that their discussions person led to an summation successful communal respect and understanding.

But helium said that the U.S. is not pleased with China continuing to bargain lipid from Iran – adjacent though Trump gave Beijing his blessing to bash truthful past month.

Bessent besides said that the negotiators did not sermon TikTok, the Chinese-owned societal media app whose destiny successful the U.S. has been successful flux since the enactment of a instrumentality that would prohibition it unless it is sold.

"We are precise cautious to support commercialized and nationalist information separate," helium said.

Trade talks betwixt the U.S. and China, the world's 2 largest trading nation's, are proceeding connected a abstracted way from the remainder of Trump's efforts to rapidly reshape America's planetary commercialized relationships.

Commerce Secretary Howard Lutnick confirmed connected CNBC's "Squawk Box" earlier Tuesday that Trump's tariff rates for dozens of countries, which had been repeatedly paused, are acceptable to restart Friday.

Bessent, asked by CNBC's Javers astir that looming tariff deadline, suggested that it should not beryllium a large interest due to the fact that the affected countries tin proceed to negociate with the U.S.

"I would deliberation that it's not the extremity of the satellite if these snapback tariffs are connected for anyplace from a fewer days to a fewer weeks, arsenic agelong arsenic the countries are moving guardant and trying to negociate successful bully faith," helium said.