As the August 1 deadline for steep new US tariffs approaches, Treasury Secretary Scott Bessent has indicated that the US may 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 the deadline, even as pressure mounts on multiple fronts. Upcoming talks in Stockholm between US and Chinese officials are expected to address not only tariffs but also broader issues such as China's purchases of Russian and Iranian oil. While some tariffs on other countries may still take effect as scheduled, the US is using the threat of tariffs as leverage to secure better deals.
The ongoing negotiations reflect a broader strategy of using tariffs as a tool for economic and geopolitical influence.
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