US and China Race to Extend Tariff Truce as Deadline Looms—High-Stakes Talks Set for Stockholm

The US and China are preparing for a critical round of trade talks in Stockholm next week, with Treasury Secretary Scott Bessent signaling that the looming August tariff deadline may be extended.

The Trump administration is prioritizing the quality of trade agreements over rushing to meet the deadline, using the threat of steep tariffs as leverage. Discussions may also expand to include China's purchases of Russian and Iranian oil, reflecting broader geopolitical concerns. While some tariffs on other countries are set to take effect, the US is optimistic about progress with China and hints at a 'rash of trade deals' in the near future.

The outcome of these talks could have significant impacts on global markets and international trade relations.