Negotiations between the U.S. and China on a possible trade deal in Sweden this week were “very constructive,” Treasury Secretary Scott Bessent told reporters on Tuesday.

Bessent, speaking after two days of bilateral talks between the world's two largest economies in Stockholm, also told CNBC in an interview that U.S. officials urged China to shift their economy toward a consumer-based model rather than manufacturing.

Chinese and American trade negotiators concluded their two-day meeting in Stockholm without a resolution 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 US and China have wrapped up another round of trade talks without any major breakthroughs, despite discussions that both sides described as "constructive".

China and the U.S. have agreed to continue their tariff pauses on each other, according to China's top trade official.