Top officials from the Trump administration will meet with their Chinese counterparts in Sweden this week for their third formal round of economic talks since President Trump raised tariffs on Chinese imports to triple-digit levels this year. The primary goal is to extend a fragile trade truce that has prevented a devastating clash between the world’s largest economies.

The discussions are scheduled for Monday and Tuesday in Stockholm. Treasury Secretary Scott Bessent and Jamieson Greer, the United States trade representative, are leading the U.S. delegation. He Lifeng, the vice premier for economic policy, has been leading the talks on behalf of China.

The negotiations come during a pivotal week for the global economy, which has been gripped by uncertainty as a result of Mr. Trump’s chaotic trade agenda. The Trump administration has been trying to win concessions from many countries before an Aug. 1 deadline for reimposing tariffs announced in April. Those levies were suspended in order to reach trade deals.

Over the last week, the Trump administration has announced deals with some of America’s biggest trading partners in quick succession.

President Trump and European Commission President Ursula von der Leyen, speaking after negotiations in Scotland on Sunday, announced that the US and EU had agreed to the framework of a trade deal that included a baseline tariff rate of 15% on EU goods imported into the US.

Trump called the deal “the biggest of them all,” while von der Leyen said that “15% is not to be underestimated, but it is the best we could get.” Other details of the framework are still being confirmed.

Earlier on Sunday the South China Morning Post, a Hong Kong-based English-language newspaper, reported that “Beijing and Washington are expected to extend their tariff truce by another three months at trade talks in Stockholm beginning on Monday.”

On Friday, Trump said that letters dictating tariff rates for over 200 countries would go out soon while his administration works to clinch deals with larger trade partners, including the EU, India, and Canada. Trump said the US hasn’t had a “lot of luck” with Canada and suggested he may impose threatened 35% levies on goods not covered by the US-Canada-Mexico trade agreement.

Last week, President Trump touted a deal with Japan that included a $550 billion investment in the US and a 15% tariff on goods imported into the US from Japan. On Saturday, Japanese trade negotiator Ryosei Akazawa suggested the money could be used to help finance an unnamed Taiwanese chipmaker building plants in the US.

“For example, if a Taiwanese chipmaker builds a plant in the U.S. and uses Japanese components or tailors its products to meet Japanese needs, that’s fine too,” he said.

In March, Taiwan’s TSMC announced a $100 billion investment in the US, on top of plans to build three plants in Arizona, one of which is already operating.

In any case, the Japan trade deal may have set a precedent for Trump’s new baseline tariff rate. On Thursday, Trump said tariffs would range from 15% to 50%, with tougher partners facing higher rates.

Trump’s April “Liberation Day” tariffs had set a baseline rate of 10% on all US trading partners.

Read more: What Trump’s tariffs mean for the economy and your wallet

Here are the latest updates as the policy reverberates around the world.

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1522 updates

President Trump and European Commission President Ursula von der Leyen, speaking after negotiations in Scotland on Sunday, announced that the US and EU had agreed to the framework of a trade deal that included a baseline tariff rate of 15% on EU goods imported into the US.

Trump called the deal “the biggest of them all,” while von der Leyen said that “15% is not to be underestimated, but it is the best we could get.” Other details of the framework are still being confirmed.

Earlier on Sunday the South China Morning Post, a Hong Kong-based English-language newspaper, reported that “Beijing and Washington are expected to extend their tariff truce by another three months at trade talks in Stockholm beginning on Monday.”

On Friday, Trump said that letters dictating tariff rates for over 200 countries would go out soon while his administration works to clinch deals with larger trade partners, including the EU, India, and Canada. Trump said the US hasn’t had a “lot of luck” with Canada and suggested he may impose threatened 35% levies on goods not covered by the US-Canada-Mexico trade agreement.

Last week, President Trump touted a deal with Japan that included a $550 billion investment in the US and a 15% tariff on goods imported into the US from Japan. On Saturday, Japanese trade negotiator Ryosei Akazawa suggested the money could be used to help finance an unnamed Taiwanese chipmaker building plants in the US.

“For example, if a Taiwanese chipmaker builds a plant in the U.S. and uses Japanese components or tailors its products to meet Japanese needs, that’s fine too,” he said.

In March, Taiwan’s TSMC announced a $100 billion investment in the US, on top of plans to build three plants in Arizona, one of which is already operating.

In any case, the Japan trade deal may have set a precedent for Trump’s new baseline tariff rate. On Thursday, Trump said tariffs would range from 15% to 50%, with tougher partners facing higher rates.

Trump’s April “Liberation Day” tariffs had set a baseline rate of 10% on all US trading partners.

Read more: What Trump’s tariffs mean for the economy and your wallet

Here are the latest updates as the policy reverberates around the world.

LIVE

1522 updates

President Trump and European Commission President Ursula von der Leyen, speaking after negotiations in Scotland on Sunday, announced that the US and EU had agreed to the framework of a trade deal that included a baseline tariff rate of 15% on EU goods imported into the US.

Trump called the deal “the biggest of them all,” while von der Leyen said that “15% is not to be underestimated, but it is the best we could get.” Other details of the framework are still being confirmed.

Earlier on Sunday the South China Morning Post, a Hong Kong-based English-language newspaper, reported that “Beijing and Washington are expected to extend their tariff truce by another three months at trade talks in Stockholm beginning on Monday.”

On Friday, Trump said that letters dictating tariff rates for over 200 countries would go out soon while his administration works to clinch deals with larger trade partners, including the EU, India, and Canada. Trump said the US hasn’t had a “lot of luck” with Canada and suggested he may impose threatened 35% levies on goods not covered by the US-Canada-Mexico trade agreement.

Last week, President Trump touted a deal with Japan that included a $550 billion investment in the US and a 15% tariff on goods imported into the US from Japan. On Saturday, Japanese trade negotiator Ryosei Akazawa suggested the money could be used to help finance an unnamed Taiwanese chipmaker building plants in the US.

“For example, if a Taiwanese chipmaker builds a plant in the U.S. and uses Japanese components or tailors its products to meet Japanese needs, that’s fine too,” he said.

In March, Taiwan’s TSMC announced a $100 billion investment in the US, on top of plans to build three plants in Arizona, one of which is already operating.

In any case, the Japan trade deal may have set a precedent for Trump’s new baseline tariff rate. On Thursday, Trump said tariffs would range from 15% to 50%, with tougher partners facing higher rates.

Trump’s April “Liberation Day” tariffs had set a baseline rate of 10% on all US trading partners.

Read more: What Trump’s tariffs mean for the economy and your wallet

Here are the latest updates as the policy reverberates around the world.

LIVE

1522 updates

President Trump and European Commission President Ursula von der Leyen, speaking after negotiations in Scotland on Sunday, announced that the US and EU had agreed to the framework of a trade deal that included a baseline tariff rate of 15% on EU goods imported into the US.

Trump called the deal “the biggest of them all,” while von der Leyen said that “15% is not to be underestimated, but it is the best we could get.” Other details of the framework are still being confirmed.

Earlier on Sunday the South China Morning Post, a Hong Kong-based English-language newspaper, reported that “Beijing and Washington are expected to extend their tariff truce by another three months at trade talks in Stockholm beginning on Monday.”

On Friday, Trump said that letters dictating tariff rates for over 200 countries would go out soon while his administration works to clinch deals with larger trade partners, including the EU, India, and Canada. Trump said the US hasn’t had a “lot of luck” with Canada and suggested he may impose threatened 35% levies on goods not covered by the US-Canada-Mexico trade agreement.

Last week, President Trump touted a deal with Japan that included a $550 billion investment in the US and a 15% tariff on goods imported into the US from Japan. On Saturday, Japanese trade negotiator Ryosei Akazawa suggested the money could be used to help finance an unnamed Taiwanese chipmaker building plants in the US.

“For example, if a Taiwanese chipmaker builds a plant in the U.S. and uses Japanese components or tailors its products to meet Japanese needs, that’s fine too,” he said.

In March, Taiwan’s TSMC announced a $100 billion investment in the US, on top of plans to build three plants in Arizona, one of which is already operating.

In any case, the Japan trade deal may have set a precedent for Trump’s new baseline tariff rate. On Thursday, Trump said tariffs would range from 15% to 50%, with tougher partners facing higher rates.

Trump’s April “Liberation Day” tariffs had set a baseline rate of 10% on all US trading partners.

Read more: What Trump’s tariffs mean for the economy and your wallet

Here are the latest updates as the policy reverberates around the world.

LIVE

1522 updates