US and China Poised to Extend Tariff Truce as High-Stakes Trade Talks Resume in Sweden

US Treasury Secretary Scott Bessent will meet with Chinese officials in Stockholm next week to discuss extending the current tariff truce, as the August deadline for higher tariffs approaches.

Both sides are signaling optimism about reaching an agreement, with Bessent suggesting that the deadline for increased tariffs on Chinese goods is likely to be pushed back. The talks may also address broader issues, including China's purchases of oil from Russia and Iran. Meanwhile, the US is striking separate trade deals with other countries, but remains focused on securing high-quality agreements rather than rushing to meet the deadline.

The outcome of these negotiations is closely watched by global markets and could have significant economic implications.