US Treasury Secretary Scott Bessent announced plans to meet with Chinese officials in Stockholm next week to discuss a possible extension of the deadline for new tariffs, signaling a potential pause in escalating trade tensions.
The talks come as President Trump pushes forward with a broad tariff agenda targeting multiple countries, including the EU, Canada, and Mexico, with an August 1 deadline looming for new duties. While some officials have called the deadline 'hard,' others suggest there may be flexibility if negotiations are productive. The ongoing US-China trade talks may also address China's purchases of Russian and Iranian oil, adding another layer of complexity.
Markets have responded positively to the possibility of a tariff truce, but uncertainty remains as the deadline approaches.
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