The US and China are set to resume high-stakes trade talks in Stockholm next week, with both sides aiming to extend the current pause on steep tariffs before the looming August 1 deadline.
US Treasury Secretary Scott Bessent has indicated that while a deal with China is likely, the Trump administration is prioritizing the quality of trade agreements over speed, using the threat of new tariffs as leverage. President Trump is simultaneously pushing for new or higher tariffs on other countries, including the EU, Canada, and the Philippines, as part of a broader strategy to secure more favorable trade terms. The outcome of these negotiations could have significant impacts on global markets and supply chains.
Business groups and officials remain cautiously optimistic that a US-China deal will be reached, but uncertainty persists as the deadline approaches.
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