US Treasury Secretary Scott Bessent has indicated that the Trump administration may extend the looming August 1 deadline for imposing higher tariffs on Chinese imports, as trade negotiations continue.
Bessent emphasized that the US is prioritizing the quality of trade agreements over rushing to meet deadlines, and will meet with Chinese officials in Stockholm next week to discuss a possible extension. The talks may also expand to cover sensitive issues such as China's purchases of oil from Russia and Iran. While the US is using the threat of tariffs as leverage in negotiations with multiple countries, officials stress that a deal with China remains a top priority.
The outcome of these talks could have significant implications for global trade and economic stability.
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