The US and China are set to hold another round of trade negotiations in Stockholm next week, with Treasury Secretary Scott Bessent indicating that the August 1 tariff deadline could be extended.
The Trump administration is emphasizing the importance of securing high-quality trade agreements rather than rushing to meet the deadline. While tariffs on other countries may still take effect as scheduled, talks with China remain constructive, and the scope may expand to include issues like Chinese purchases of Russian and Iranian oil. The administration is using the threat of tariffs as leverage to pressure trade partners into making concessions.
Overall, the US is prioritizing favorable terms in its trade deals, even if it means delaying the implementation of new tariffs.
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