A new round of trade negotiations between China and the United States is set to commence tomorrow, Monday, in Stockholm, Sweden, with delegations led by Chinese Vice Premier He Lifeng and U.S. Treasury Secretary Scott Besant.

According to CNN, the Chinese side is expected to approach the talks with renewed confidence in its firm negotiating stance and increased ambition to secure further concessions from the United States, reflecting evolving dynamics in the economic relationship between the two countries.

Ahead of the talks, U.S. Treasury Secretary Besant indicated that both parties would discuss a potential extension of the existing trade truce, which is currently set to expire on August 12.

The truce, agreed upon during a previous meeting in Geneva in May, helped suspend reciprocal tariff hikes and paved the way for a period of de-escalation in the ongoing trade dispute between the world’s two largest economies.