China and the US meet in Sweden to seek progress on trade despite their significant differences.

Chinese and U.S. representatives are meeting starting Sunday in Stockholm, Sweden, for a third round of trade negotiations in which both sides expect progress despite the sensitive issues that divide Beijing and Washington, such as China's industrial capabilities and its purchases of Iranian and Russian crude oil.

According to official media, China is approaching this round by appealing for progress to be built on the consensus reached at previous meetings in Geneva and London and the telephone conversation between Presidents Xi Jinping and Donald Trump on June 5.

Beijing has avoided detailing specific objectives, but has reiterated that the dialogue must be governed by the principles of "equality, mutual respect, and reciprocity" and be framed within the bilateral consultation mechanism, which it considers key to reducing misunderstandings and strengthening cooperation.

In line with the framework agreed upon in London, sympathetic media outlets have emphasized that the Chinese government has fulfilled its part of the commitments it made , including the partial relaxation of controls on the export of rare earths.

In recent weeks, there have also been some signs of easing tensions , such as the suspension of an antitrust investigation into a subsidiary of the US-based DuPont.

Beijing, however, has avoided commenting on the US request to extend the tariff truce, which expires on August 12.

He has made it known, through sympathetic media, that he will not accept impositions on issues such as the purchase of Russian or Iranian oil , excess manufacturing capacity, or national industrial strategy, and that any attempt to condition negotiations on unilateral measures—such as extraterritorial sanctions or technological restrictions—would damage the climate of understanding achieved.

The delegation will again be led by Vice Premier He Lifeng , who led the negotiating teams at the two previous meetings, while the US side has only confirmed that Treasury Secretary Scott Bessent will lead the Washington team.

It is unknown whether Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer, two figures who led trade negotiations during the Trump administration and were in Geneva and London, will also participate in Stockholm.

Washington is coming to this meeting with the intention of going beyond measures to mitigate the trade war and is aiming to return with an agreement, even a minimal one, that would provide greater access to the Chinese market for American products. Scott Bessent himself stated this in a television interview last week.

"We want them to open up," he told Fox, referring to the Asian giant's market. "They have 1.4 billion people with a very high savings rate. They have the potential for a great consumer economy," he added.

In that regard, President Donald Trump's latest comment on the matter is that both sides have "the terms of an agreement," without providing further details.

Trump said after the June call that he was enthusiastic about meeting with Xi, and Beijing and Washington are reportedly in talks about the possibility of the two holding a meeting at the Asia-Pacific Economic Cooperation (APEC) summit in South Korea in October.

Although Beijing has not confirmed the meeting's agenda, it is assumed that discussions will address access to rare earths, strategy in key technological sectors, and China's role in supplying chemical precursors for the manufacture of fentanyl.

Beyond discussing the possible extension of a tariff truce, the US has expressed a desire to address issues that are uncomfortable for the Asian giant, since, in addition to greater market access, there is the aforementioned Chinese overcapacity in key sectors such as electric vehicles , steel, and solar panels, as well as Beijing's purchases of Russian and Iranian crude oil.

Added to this is a parallel issue, not directly linked to the trade talks but with significant weight, which is a wild card for Xi's government.

This is about the need for Beijing to approve Washington's proposal for the creation of a new company, independent of the Chinese parent company, that would allow the popular TikTok app to operate in the US.

If China doesn't accept the offer, TikTok will have to cease operations on US soil in September, and Trump will lose the support of a platform that has helped him enormously mobilize his younger base.

These negotiations stem from the trade war triggered by Trump and the escalation of tariffs unleashed by both powers in April, when US tariffs on Chinese goods reached 145% and those on China reached 125%.

In May, an initial meeting in London succeeded in reducing these tariffs to 30% and 10%, respectively, while the June meeting in the British capital eased export controls, including those on chips and aircraft engines from the US and rare earths from the Chinese side.