A 90-day extension of the tariff pause between the U.S. and China that’s set to expire on Aug. 12 could be in the works, but only if U.S. President Donald Trump gives his consent.

Trade negotiators for the U.S. and China on Tuesday concluded a third round of talks in Stockholm, Sweden, that ended with an agreement to seek another 90-day extension. That extension would go into effect only if Trump approves. If he gives the thumbs up, the tariff rate would temporarily remain at 30 percent for Chinese imports. And if he declines, tariff rates on Chinese imports to the U.S. would climb back up to as high as 145 percent for some goods.

Without any clear guidance or path on where tariffs could go, many companies — including footwear firms — have relied on the temporary pause rates as they plan their businesses for the balance of 2025.

Meanwhile, Trump told reporters on Air Force One during his return from Scotland that he spoke with Treasury Secretary Scott Bessent. “They had a very good meeting with China,” the president said, adding that he will be briefed on Wednesday by Bessent and U.S. Trade Representative Jamieson Greer.

At a briefing at the Swedish prime minister’s office on Tuesday, Greer described the meetings as “constructive,” noting the two will have a “positive report” for Trump. Bessent cited “good, personal interaction” during the talks, noting that the U.S. has a better understanding of China’s agenda. Bessent and Greer were in talks with Chinese trade negotiator Li Chenggang, who told the press that both sides had agreed to push for an extension on most U.S. “reciprocal” tariffs and on Beijing’s retaliatory steps.

Trump was on his way home from Scotland, where he and European Commission President Ursula von der Leyen on Sunday disclosed an agreement on the parameters for a trade deal that included a 15 percent tariff across a wide range of EU imports from the 27-member trade bloc.

While the 15 percent rate was higher than the 10 percent duty EU was seeking, that rate seems doable in comparison to the 30 percent duty Trump had threatened to levy on EU imports. And while European shoe associations were not pleased with the threatened 30 percent hike, some now see the lowered 15 percent rate as a positive in providing a level of stability in future business planning.

Paulo Goncalves, director of communications at APICCAPS (Portuguese Footwear, Components, Leather Goods Manufacturers’ Association), said the 15 percent represents an increase of only 5 percentage points, and so is a development that “can be regarded as positive, especially given the instability and unpredictability of recent months.”

He explained that when Trump announced an additional 20 percent tariff on all European products in April, that would have made Portuguese footwear around “30 percent more expensive upon entry into the U.S. market.” That was followed by a threat to impose an additional 30 percent tariff. “The agreement now announced by the European Commission replaces this framework with a single 15 percent tariff, applicable to the vast majority of goods exported to the United States,” he said.

As the U.S. market remains a “strategy priority for Portuguese footwear,” Goncalves said the agreement marks an important step to stabilizing U.S.-EU trade relations, “opening up new opportunities for the Portuguese footwear industry — opportunities that must now be strategically seized.”

Imanol Martínez, marketing and international business development director at the Federation of Spanish Footwear Industries (FICE), described the U.S.-EU agreement as a “positive step toward reducing the commercial uncertainty affecting the footwear sector,” even if there are still details to be learned on both scope and implications of the deal.

FICE companies are presenting their Spring-Summer 2026 collections, and having clear rules is essential to work with confidence, Martínez said.

“For years, we have been consolidating our presence in the American market with high-quality products at competitive prices,” the FICE director noted. “We hope this new framework will ensure Spanish footwear continues to reach U.S. consumers with stability and mutual guarantees.”

Paul Farago, president of footwear brands Jack Erwin and Ace Marks, said his firm sources a lot of its footwear from Europe, mostly Italy and Portugal. “A 15 percent blanket tariff, while not ideal, is tolerable. However, combined with the recent weakness of the U.S. dollar, we’re expecting product costs to increase about 25 percent in the short-term,” he said.