US Signals Possible Extension of China Tariff Deadline Amid High-Stakes Trade Talks

As the August 1 deadline for steep new US tariffs approaches, Treasury Secretary Scott Bessent has indicated 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 negotiating terms with China, and may also address sensitive issues like China's purchases of Russian and Iranian oil. The US is using the threat of tariffs as leverage in ongoing negotiations with multiple trade partners, including the EU, Canada, and others.

Despite the looming deadline, officials stress that meaningful, high-quality deals are more important than speed.