US Treasury Secretary Scott Bessent announced that he will meet with Chinese officials in Stockholm next week to discuss a likely extension of the tariff deadline, signaling a possible reprieve in the ongoing US-China trade dispute.
The talks come as President Trump pushes forward with new tariffs on multiple countries, but hints at flexibility for those engaged in productive negotiations. The August 1 deadline for imposing new tariffs is being described as both a 'hard deadline' and potentially negotiable, reflecting internal debate within the Trump administration. The upcoming talks may also address broader issues, including China's purchases of Russian and Iranian oil.
Markets have responded positively to the prospect of a tariff truce extension, with major indices climbing on the news.
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