US Treasury Secretary Scott Bessent announced that he will meet with Chinese officials in Stockholm next week to discuss the possibility of extending the looming US-China tariff deadline, currently set for early August.
While the Trump administration has set August 1 as a 'hard deadline' for imposing higher tariffs on countries without trade deals, Bessent emphasized that the quality of trade agreements is more important than rushing to meet the deadline. The talks may also address China's purchases of Russian and Iranian oil, which have become new points of contention. Despite the pressure of the deadline, both sides appear open to extending the truce to avoid steep tariffs and continue negotiations.
The outcome of these talks could have significant implications for global trade and economic stability.
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