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

The U.S. Constitution gives the power to impose taxes — including tariffs — to Congress. But lawmakers have gradually relinquished power over trade policy to the White House. And Trump has made the most of the power vacuum, raising the average U.S. tariff to more than 18%, highest since 1934, according to the Budget Lab at Yale University.

O TTAWA—Canadian Prime Minister Mark Carney said bilateral talks with Washington to resolve the tariff row might not lead to a deal before the Aug. 1 deadline. Senior officials are in Washington to find an agreement that is suitable for Canada, Carney said.