As the August 1 deadline for new US tariffs approaches, Treasury Secretary Scott Bessent has emphasized that the Trump administration is prioritizing the quality of trade agreements over rushing to meet the deadline.
Bessent is set to meet with Chinese officials in Stockholm next week to discuss a likely extension of the tariff pause, marking the third round of talks between the two countries. The discussions may also expand to cover China's purchases of oil from Russia and Iran, reflecting broader geopolitical concerns. While some tariffs may still take effect for other countries, the US is using the looming deadline as leverage to secure more favorable terms.
Overall, the administration signals that high-quality, comprehensive deals are more important than quick resolutions.
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