The US and China are set to resume high-stakes trade talks in Sweden next week, with both sides aiming to extend a crucial tariff truce before steep new duties take effect in August.
US Treasury Secretary Scott Bessent has emphasized that while the August 1 deadline for higher tariffs is a 'hard deadline,' there is flexibility for China as negotiations progress. President Trump is leveraging the threat of tariffs to push for more favorable trade deals not only with China, but also with the EU, Canada, and other countries. The administration is prioritizing the quality of trade agreements over speed, signaling that some deals may take longer to finalize.
The outcome of these talks could have significant impacts on global markets and supply chains, as well as on diplomatic relations between major economies.
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