U.S. and Chinese officials began a second day of talks in Stockholm on Tuesday to resolve longstanding economic disputes and step back from an escalating trade war between the world's two biggest economies.

Beijing's top trade official says China and the United States have agreed to work on extending a deadline for new tariffs on each other after two days of trade talks in Stockholm.

U.S. Treasury Secretary Scott Bessent said on Tuesday that he will meet his Chinese counterpart next week in Stockholm and discuss what is likely to be an extension of an August 12 deadline for a deal to avert sharply higher tariffs.