US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are set to meet in Sweden next week for a new round of trade talks, aiming to extend the current pause on tariffs before the August 1 deadline.
The Trump administration has signaled that while the deadline is a 'hard' one, there is flexibility for a possible extension, especially with China. The talks come amid a flurry of US trade deals with other Asian countries and ongoing negotiations with the EU and Canada. Bessent has emphasized that the US is prioritizing high-quality agreements over speed, using the threat of higher tariffs as leverage.
Markets are watching closely, as the outcome could impact global trade flows and economic stability.
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