The US and China are set for another round of high-stakes trade talks in Stockholm next week, with both sides aiming to extend the current pause on steep tariffs before the looming August 1 deadline. US Treasury Secretary Scott Bessent has emphasized that while the administration is prioritizing the quality of trade agreements over speed, the threat of new tariffs is being used as leverage to secure better deals. President Trump is simultaneously pushing forward with new tariffs on other countries, including the EU, Canada, and the Philippines, signaling a broader escalation in global trade tensions. Business groups and officials remain optimistic that a US-China deal will be reached, but uncertainty persists as the deadline approaches. The outcome of these negotiations will have significant implications for global markets and supply chains.
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