US Treasury Secretary Scott Bessent announced plans to meet with Chinese officials in Stockholm next week to discuss a possible extension of the deadline for new tariffs, signaling a potential pause in escalating trade tensions.
The talks come as President Trump pushes forward with a sweeping tariff agenda targeting multiple countries, including the EU, Canada, and Indonesia, with an August 1 deadline looming for new duties. While some officials have called the deadline 'hard,' others suggest there may be flexibility for countries engaged in productive negotiations. The US-China discussions may also address China's purchases of Russian and Iranian oil, adding complexity to the talks.
Markets have responded positively to the possibility of a tariff truce, but uncertainty remains as the deadline approaches.
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