US Treasury Secretary Scott Bessent has announced that he will meet with Chinese officials in Stockholm next week to discuss a likely extension of the looming US-China tariff deadline. The Trump administration is signaling a willingness to prioritize the quality of trade agreements over rushing to meet the August 1 deadline for imposing steep new tariffs. While the US is using the threat of tariffs as leverage in negotiations with China and other trade partners, Bessent emphasized that talks could also expand to cover issues like China's purchases of Russian and Iranian oil. The administration has already reached new trade deals with countries like the Philippines and Indonesia, but negotiations with China and the EU remain unresolved. The outcome of these talks could have significant implications for global trade and economic stability.
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