Beijing's top trade official says China and the United States have agreed to work on extending a deadline for new tariffs on each other after two days of trade talks in Stockholm.

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.

Shares in Asia are mostly higher after the U.S. and China ended their latest round of trade talks without a deal