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.

The United States and China have agreed to work on extending a deadline for new tariffs on each other after two days of trade talks in Stockholm concluded on Tuesday, according to Beijing’s lead negotiator.

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.”