As the August 1 deadline for steep new US tariffs approaches, Treasury Secretary Scott Bessent has signaled that the US is likely to extend the deadline for a trade deal with China.
Bessent emphasized that the Trump administration is prioritizing the quality of trade agreements over rushing to meet arbitrary deadlines. Upcoming talks in Stockholm will focus on avoiding higher tariffs and may also address broader issues, including China's purchases of Russian and Iranian oil. While the US is pressing for tougher terms with other trade partners, negotiations with China appear to be more constructive.
The administration views the looming tariff hikes as leverage to secure better deals, but remains open to deadline flexibility if progress continues.
.Here are the top political news stories for today.
Be the first to reply to this general discussion.
Join in on more popular conversations.
