China and the United States have diverged on the timing for another pause on tariff increases, a hurdle that needs to be cleared before the world’s two largest economies reach a trade deal ahead of an August 11 deadline.
The Chinese side did not announce any breakthroughs or specify the duration of the extension after the discussions, which marked a third round of high-level trade negotiations between the world’s two largest economies.
“According to the consensus between China and the US, both sides will continue to push for the continued extension of the pause on the 24 per cent part of the reciprocal tariffs on the US side as well as the countermeasures on the Chinese side”, Li Chenggang, China’s Vice-Minister of Commerce, said after the negotiations concluded on Tuesday.
In a separate press briefing held about an hour later, US Treasury Secretary Scott Bessent described the talks as “constructive” and “wide-ranging”, but denied that they had completed an agreement.
He said that nothing would be agreed upon until American negotiators “speak” with Trump, who is now on his way back to the US from a visit to Scotland.