With a looming August 1 deadline for higher tariffs, US Treasury Secretary Scott Bessent is set to meet Chinese officials in Sweden to negotiate an extension of the current trade truce. The talks come amid a flurry of new US trade deals with other countries and threats of steep tariffs on imports from the EU, Canada, and others. Bessent has emphasized that the US prioritizes high-quality agreements over speed, using the tariff deadline as leverage in negotiations. There is cautious optimism that the US and China will reach a deal to avoid a tariff hike, but uncertainty remains as the deadline approaches. The outcome of these talks will have significant implications for global trade and economic stability.
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