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Investing.com-- The U.S. and China are expected to extend their tariff truce by an additional 90 days during trade talks starting Monday in Stockholm, the South China Morning Post (SCMP) reported on Sunday, citing sources close to the discussions.
The temporary suspension of most tariffs, agreed in May, is set to expire on August 12.
According to the SCMP report, both sides will use the third round of negotiations to outline their positions on unresolved issues, including U.S. concerns over China’s industrial overcapacity, rather than pursue immediate breakthroughs.
Sources told SCMP that during the extension, neither side plans to impose new tariffs or escalate the trade conflict. Beijing is also expected to seek clarity from Washington over the 20% tariffs imposed on Chinese goods in March related to fentanyl concerns, the report said.
President Donald Trump said Sunday the U.S. is “very close” to a deal with China, but did not elaborate. In an editorial on Sunday, China’s People’s Daily said Beijing remains committed to resolving disputes through equal dialogue and mutual respect.