U.S. President Donald Trump said on Wednesday that talks were moving along with China and he expected the two sides would reach a fair deal on trade. China is facing an August 12 deadline to reach a durable tariff agreement with Trump's administration,

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.

Chinese and American trade negotiators concluded their two-day meeting in Stockholm without a clear path forward to avert tariffs from skyrocketing back to ultra-high levels that formed an effective blockade on trade between the world’s two largest economies.