US Treasury Secretary Scott Bessent and Chinese officials are set to meet in Stockholm next week for a crucial round of trade talks, with the main focus on extending the deadline for new tariffs. President Trump has set an August 1 deadline for imposing steep tariffs on countries that fail to reach trade deals with the US, but Bessent has signaled flexibility, suggesting the deadline could be extended if talks are productive. The negotiations come amid a flurry of new US tariff announcements targeting countries like Canada, Indonesia, and the Philippines, and threats of higher tariffs on EU imports. Markets appear to be taking a wait-and-see approach, as the outcome of these talks could significantly impact global trade flows. The US is also considering raising issues such as China's purchases of Russian and Iranian oil during the discussions.
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