00:00U.S. and Chinese officials depart from a government building in Stockholm after finishing their latest round of trade talks.
00:09Beijing says a 90-day pause on U.S. tariffs could be extended.
00:30While the U.S. side says the decision needs approval from the top.
00:37He'll have the final decision. I think our Chinese counterparts have jumped the gun a little and said that we do have an extension.
00:46I can say that the meetings were very far-reaching, robust, and highly satisfactory.
00:55This latest round of talks reportedly focused on topics like rare earth supply and China's purchase of sanctioned Russian and Iranian oil.
01:04Both sides touted progress, though no major breakthroughs were announced, and details remain murky.
01:10But U.S. President Donald Trump is confident a meeting with Chinese leader Xi Jinping is now more likely by the end of the year.
01:17He wants to meet, and I look forward to the meeting too.
01:21But I would say before the end of the year. I mean, just to go full circle.
01:27It comes as the U.S. and the European Union scramble to finalize a major trade deal ahead of Trump's Friday deadline.
01:34The agreement sets a baseline 15% tariff on most EU imports.
01:39Trump has held it as the biggest of them all, outstripping deals reached with other major trading partners like Japan and Vietnam.
01:45But many countries, including Taiwan, are still negotiating with the U.S.
01:51Bloomberg reports that Taipei is being asked to boost its U.S. investment to avoid a potential 32% tariff.
01:58Still, the U.S. says there's not much to worry about for those countries that have not struck a deal yet.
02:03I would think that it's not the end of the world if these snapback tariffs are on for anywhere from a few days to a few weeks,
02:14as long as the countries are moving forward and trying to negotiate in good faith.
02:21The new trade deals have raised confidence in some corners and prompted International Monetary Fund to raise its 2025 global growth forecast to 3%.
02:30But the IMF warns that looming tariffs, store trade talks and a return to protectionist policies could drag down growth and drive up inflation in the months ahead.
