The US and China are set to hold a new round of trade negotiations in Sweden next week, with Treasury Secretary Scott Bessent signaling that the looming August 1 tariff deadline may be extended.
The Trump administration is prioritizing the quality of trade agreements over speed, using the threat of steep tariffs as leverage to secure better terms. Talks may also expand to cover sensitive issues like China's purchases of oil from Russia and Iran. While the US has struck deals with other countries, a comprehensive agreement with China remains elusive, and the outcome of these talks could have significant global economic implications.
The ongoing uncertainty is impacting markets and trade partners worldwide.
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