The United States and China are set to resume high-stakes trade talks in Sweden next week, with US Treasury Secretary Scott Bessent signaling that the looming August 1 tariff deadline could be extended by up to 90 days.
The talks aim to avoid a sharp increase in tariffs on Chinese imports, as the Trump administration leverages tariff threats to secure more favorable trade terms. While Bessent emphasizes prioritizing the quality of trade agreements over speed, the US is simultaneously negotiating deals with other countries and threatening new tariffs on the EU, Canada, and others. The ongoing negotiations reflect broader global trade tensions, with the US using tariffs as a tool for leverage and world peace.
Business groups remain optimistic that a US-China deal will eventually be reached, but uncertainty persists as the deadline approaches.
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