Chinese and American trade negotiators concluded their two-day meeting in Stockholm without a clear path forward to avert tariffs from skyrocketing back to ultra-high levels that formed an effective blockade on trade between the world’s two largest economies.

The United States and China agreed to extend their 90-day tariff truce on July 29, SCMP reported. This is a developing story. Please keep refreshing for updates.

Treasury Secretary Scott Bessent joins 'Power Lunch' to discuss the possibility of Trump and Xi Jinping meeting, Chinese purchases of Iranian oil and much more.

After a “constructive” round of talks ahead of an Aug. 12 deadline, Treasury Secretary Scott Bessent said “nothing is agreed until we speak with President Trump.”

The United States has struck deals over tariffs with some of its key trading partners — including Britain, Japan and the European Union — since President Donald Trump announced “Liberation Day” tariffs against dozens of countries in April. China remains perhaps the biggest unresolved case.

A new tariff simulator shows Chinese exports to the US could plummet without a trade deal, and be redirected towards Southeast Asia and Russia.

United Parcel Service reported a decline in second-quarter profit and revenue on Tuesday, as demand took a hit from new "de minimis" tariffs on low-value Chinese shipments and mounting risks from President Donald Trump's trade policies.

One economist told Newsweek that companies may be wary of "consumer backlash" if they hike prices to mitigate the tariffs' impact.