The US and China are set to hold another round of trade negotiations in Stockholm next week, with Treasury Secretary Scott Bessent indicating that the August 1 tariff deadline could be extended.
The Trump administration is emphasizing the importance of securing high-quality trade agreements rather than rushing to meet the deadline. While tariffs on other countries may still take effect as planned, talks with China remain constructive and could expand to cover issues like Chinese purchases of Russian and Iranian oil. The looming tariff increases are being used as leverage to pressure trade partners into making concessions.
Despite the hardline rhetoric, officials suggest there is flexibility in the timeline if progress continues.
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