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. 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 Stockholm meeting — following similar talks in Geneva and London in recent months — is set to extend a 90-day pause on those tariffs. During the pause, U.S. tariffs were lowered to 30% on Chinese goods, and China set a 10% tariff on U.S. products.