With a looming August 1 deadline for steep new tariffs, US Treasury Secretary Scott Bessent is set to meet Chinese officials in Stockholm to discuss extending the current pause on tariffs.
The Trump administration is using the threat of higher tariffs as leverage in ongoing trade negotiations with China and other major partners, including the EU and Canada. While some deals have been reached with countries like the Philippines and Indonesia, talks with China remain critical to avoiding a major escalation in the trade war. Bessent and other officials emphasize that the US is prioritizing the quality of trade agreements over speed, but the deadline is putting pressure on all sides.
The outcome of these talks could have significant impacts on global markets and supply chains.
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