As the August 1 deadline for increased US tariffs approaches, Treasury Secretary Scott Bessent has announced upcoming talks with Chinese officials in Stockholm, signaling a likely extension of the current tariff truce. The Trump administration is emphasizing the importance of securing high-quality trade agreements rather than rushing to meet the deadline. Discussions may also expand to include China's purchases of Russian and Iranian oil, reflecting broader geopolitical concerns. While some tariffs on other countries may still take effect, negotiations with China are described as constructive and ongoing. The administration views the looming deadline as leverage but remains focused on achieving favorable terms rather than quick deals.
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