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.

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.”

Chinese trade negotiators and the White House said both sides are looking to potentially extend talks beyond an August deadline to resolve wide-ranging tariff disputes triggered by Donald Trump’s global trade war.