U.S. and Chinese officials finished two days of talks in Stockholm on Tuesday that were aimed at tackling longstanding economic disputes and stepping back from an escalating trade war between the world's two biggest 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.

The Chinese and U.S. teams held “in-depth, candid, constructive” discussions on economy and trade over the past day and a half in Stockholm, said a senior Chinese official on Tuesday.