US Treasury Secretary Scott Bessent has announced that he will meet with Chinese officials in Stockholm next week to discuss extending the deadline for increased tariffs, signaling a likely continuation of the current trade truce. The talks come as the August 1 deadline for higher tariffs looms, with both sides emphasizing the importance of reaching a high-quality agreement rather than rushing to meet the deadline. Bessent indicated that the negotiations may also address broader issues, including China's purchases of oil from Russia and Iran. The Trump administration is using the threat of tariffs as leverage to secure more favorable trade terms, not just with China but also with the EU, Canada, and other partners. Despite the pressure, business groups and officials remain optimistic that a US-China deal will eventually be reached.
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