As the August 1 deadline for steep new US tariffs approaches, Treasury Secretary Scott Bessent has indicated that the US may extend the deadline for a trade deal with China.
Bessent emphasized that the Trump administration is prioritizing the quality of trade agreements over rushing to meet the deadline, even as pressure mounts on multiple fronts. Upcoming talks in Stockholm will focus on avoiding higher tariffs and may also address broader issues, including China's oil purchases from Russia and Iran. The administration is using the threat of tariffs as leverage in negotiations with China, the EU, and other trade partners.
Despite the looming deadline, officials suggest flexibility, signaling that negotiations could continue if progress is made.
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