Trump started hiking tariffs on Chinese goods shortly after his return to the White House. China ultimately responded with tariffs of its own. Tensions escalated, with tariff rates hitting the triple digits, before a trade truce in May.

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.

In the wake of the Trump administration’s trade deal with the European Union, investors have turned to watching for other agreements ahead a deadline at the end of this week — and they’re looking for progress in talks with China,