US Treasury Secretary Scott Bessent announced that he will meet with Chinese officials in Sweden next week to discuss extending the deadline for increased tariffs, signaling a likely continuation of the current trade truce between the two economic giants.
The talks come as President Trump pushes for new tariffs on multiple countries, with an August 1 deadline looming for higher duties on imports from China, the EU, Canada, and others. While the US is prioritizing the quality of trade agreements over speed, the threat of steep tariffs is being used as leverage in ongoing negotiations. The discussions may also expand to cover issues like China's oil purchases from Russia and Iran.
Despite the tense atmosphere, business groups and officials remain optimistic that a US-China trade deal will eventually be reached.
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