Hello and welcome to World Business Report from the BBC World Service.
I'm Sam Fennig coming up today.
China says there's a deal, but the US says not yet.
As trade talks wrap up, there's confusion over what happens next.
We'll hear from a former US ambassador to China also today.
As we were leaving,
we could see the flames at the top of the street and the wind was just so strong and it was just so eerily silent.
The global cost of natural disasters has hit a 14-year high, but who's footing the bill?
First today, the US and China have concluded two days of trade talks in Stockholm.
While there's been no breakthrough,
both sides have agreed to work toward ending exceeding, extending rather,
a 90-day tariff truce that's set to expire in just two weeks' time.
If that deadline passes without a deal,
then punitive tariffs on hundreds of billions of dollars' worth of goods could return,
disrupting global trade and hitting key sectors.
The Chinese thought that the deal for a further 90-day pause had been agreed.
But then the US Treasury Secretary, Scott Besant,
said that that wasn't the case and that it still needed President Trump's approval.
Besant added
though that Beijing appeared more willing to engage following other recent US trade deals.