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.

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.”

U.S. President Donald Trump said on Wednesday that talks were moving along with China and he expected the two sides would reach a fair deal on trade. "We're moving along with China. We're doing fine with China,