US Treasury Secretary Scott Bessent announced upcoming talks with Chinese officials in Stockholm, signaling a likely extension of the tariff deadline between the two economic giants.
The discussions come as President Trump pushes for new and higher tariffs on multiple countries, including the EU, Canada, and Indonesia, with an August 1 deadline looming. Despite earlier claims of a 'hard deadline,' US officials now suggest flexibility for countries engaged in productive negotiations. The talks may also address China's purchases of Russian and Iranian oil, adding further complexity to the negotiations.
Global markets are reacting to the uncertainty, with stock indices fluctuating and international partners preparing countermeasures.
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