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

A deadlock on key issues including export restrictions and China’s purchases of Russian oil could reignite a tit-for-tat trade war.

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, but was told that Beijing would protect its energy sovereignty.

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.

The Federal Reserve is slated to announce its latest interest-rate decision, and investors will scour the July jobs report. Earnings season marches on, with four of the “Magnificent Seven” names headlining a packed schedule.

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.

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.

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