Senior U.S. and Chinese economic officials met for more than five hours in Stockholm on Monday, opening a new round of negotiations aimed at preventing the return of triple-digit tariffs between the world’s two largest economies. The talks, held at Sweden’s Rosenbad government offices, were led by U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng and adjourned in the evening with plans to resume on Tuesday. Commerce Secretary Howard Lutnick told reporters a 90-day extension of the current tariff truce is “likely.” The pause, due to lapse on Aug. 12, keeps U.S. duties on Chinese imports around 30% instead of the 145% rate imposed in April and caps China’s retaliatory tariffs at roughly 10%. A renewal would give negotiators more time to craft a longer-term accord and avert fresh disruption to global supply chains. Delegations are also tackling U.S. concerns over fentanyl precursor chemicals produced in China, restrictions on tech exports, and limits on critical mineral shipments. U.S. Trade Representative Jamieson Greer said the focus is on monitoring existing commitments and laying groundwork for more balanced trade. Analysts say a successful extension could pave the way for a meeting between President Donald Trump and President Xi Jinping later this year.