US-China Trade Talks Intensify as Tariff Deadline Looms—Extension Likely, But Stakes Remain High

As the August 1 deadline for steep new US tariffs approaches, Treasury Secretary Scott Bessent has signaled that the US is prioritizing the quality of trade agreements over rushing to meet the deadline. Bessent will meet with Chinese officials in Stockholm next week to discuss a likely extension of the current tariff truce, though tariffs on other countries may still take effect as planned. The talks may also expand to cover contentious issues such as China's purchases of oil from Russia and Iran. While the Trump administration uses the looming deadline as leverage, officials emphasize that any deal must be comprehensive and favorable to US interests. The outcome of these negotiations will have significant implications for global trade and economic stability.