The US and China are set to hold another round of trade negotiations in Stockholm next week, with US Treasury Secretary Scott Bessent signaling that the August 1 tariff deadline may be extended.
The Trump administration is prioritizing the quality of trade agreements over meeting strict deadlines, even as steep new tariffs loom for multiple countries. Talks are expected to cover not only traditional trade issues but also China's purchases of Russian and Iranian oil, which have become new points of contention. While some progress has been made, the US is using the threat of higher tariffs as leverage to secure better terms.
The administration has also indicated that it is not rushing deals with other partners, such as the EU and Canada, as it seeks more favorable outcomes.
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