The US and China are set to resume high-stakes trade talks in Sweden next week, with both sides aiming to extend a crucial deadline that would otherwise trigger steep new tariffs on Chinese imports.
US Treasury Secretary Scott Bessent has indicated that while the August 1 deadline is a 'hard' one, there is flexibility for a possible extension, especially as negotiations show signs of progress. President Trump is leveraging the threat of tariffs not only with China but also with other major trading partners, including the EU, Canada, and Asian nations, to secure more favorable trade deals. The administration is emphasizing the quality of agreements over speed, signaling that they are willing to hold out for better terms even as the deadline approaches.
The outcome of these talks could have significant implications for global markets, supply chains, and economic relations worldwide.
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