The US and China are set to hold another round of trade negotiations in Stockholm next week, with US Treasury Secretary Scott Bessent signaling that the looming August 1 tariff deadline may be extended.
The Trump administration is prioritizing the quality of trade agreements over meeting strict deadlines, aiming for more favorable terms rather than rushing deals. Talks may also expand to cover sensitive issues like China's purchases of oil from Russia and Iran. Despite the possibility of an extension for China, tariffs on other countries could still take effect as scheduled.
The US is using the threat of higher tariffs as leverage to pressure trade partners into making concessions.
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