Trump started hiking tariffs on Chinese goods shortly after his return to the White House. China ultimately responded with tariffs of its own. Tensions escalated, with tariff rates hitting the triple digits, before a trade truce in May.

The United States and China have agreed to work on extending a deadline for new tariffs on each other after two days of trade talks in Stockholm concluded on Tuesday, according to Beijing’s lead negotiator.

STOCKHOLM - U.S. Treasury Secretary Scott Bessent on Tuesday said he warned Chinese officials that continued purchases of sanctioned Russian oil would lead to big tariffs due to legislation in Congress,