As the August 1 deadline for steep new US tariffs approaches, Treasury Secretary Scott Bessent has indicated that the US may extend the deadline for tariffs on Chinese imports, with another round of trade talks set for next week in Stockholm.
The Trump administration is emphasizing the importance of securing high-quality trade agreements over rushing to meet the deadline, even as pressure mounts on both China and the European Union to make concessions. Discussions with China may also expand to cover sensitive issues like Beijing's purchases of Russian and Iranian oil. While some tariffs are still expected to take effect on August 1 for other countries, negotiations with China appear to be progressing more constructively.
The administration is using the looming tariff hikes as leverage to extract better terms from trade partners.
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