As the August 1 deadline for steep new US tariffs approaches, Treasury Secretary Scott Bessent has signaled that the US is likely to extend the deadline for a trade deal with China. Bessent emphasized that the Trump administration is prioritizing the quality of trade agreements over rushing to meet the deadline, even as pressure mounts on multiple fronts. Upcoming talks in Stockholm will focus on avoiding higher tariffs and may also address broader issues, such as China's purchases of Russian and Iranian oil. Meanwhile, the US is using the threat of tariffs as leverage in ongoing negotiations with other major trading partners, including the EU, Canada, and India. The administration maintains that while some deadlines may be flexible, the overall strategy is to secure more favorable terms for the US.
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