US Treasury Secretary Scott Bessent will meet with Chinese officials in Stockholm next week to negotiate an extension of the current US-China tariff truce, as the August deadline for higher tariffs approaches. The talks are expected to address not only tariffs but also broader issues such as China's purchases of oil from Russia and Iran. While the US has struck new trade deals with other countries, including Indonesia and the Philippines, the focus remains on securing a high-quality agreement with China rather than rushing to meet the deadline. The Trump administration is using the threat of steep tariffs as leverage in negotiations, signaling flexibility on the deadline but maintaining pressure on trade partners. Markets are watching closely, as the outcome could have significant impacts on global trade and economic stability.
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