US Treasury Secretary Scott Bessent has announced upcoming talks with Chinese officials in Stockholm, where extending the looming August 1 tariff deadline will be a key topic.
The Trump administration is signaling flexibility on the deadline, prioritizing the quality of trade agreements over speed, despite earlier claims of a 'hard deadline.' Discussions may also address US concerns over China's purchases of Russian and Iranian oil, which could complicate negotiations. The US is using the threat of steep tariffs as leverage in ongoing trade talks with China, the EU, and other partners.
Meanwhile, markets are reacting to the uncertainty, with stocks rising as officials downplay the immediacy of the tariff threat.
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