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

China’s top leaders have pledged to help companies slammed by higher U.S. tariffs but held back on major moves after trade talks.

Trump started hiking tariffs on Chinese goods shortly after his return to the White House. China ultimately responded with tariffs of its own. Tensions escalated, with tariff rates hitting the triple digits, before a trade truce in May.

China’s top trade official said the two sides had “constructive” and “candid” discussions and agreed to keep the tariffs at current levels — the United States taxing Chinese goods at 30 percent and China collecting 10 percent on US products.

Porsche and Mercedes-Benz reported dramatic declines in profit Wednesday, hit by President Trump’s tariffs on one side of the world and a collapse in Chinese luxury sales on the other. It is “a kind of sandwich situation,

Mercedes-Benz Group AG reinstated guidance at a lower level, citing pressure from President Donald Trump’s tariffs and tough competition in China, where local brands are dominating on electric vehicles.