US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are set to meet in Sweden next week for a new round of trade talks, aiming to extend the current pause on steep tariffs before the August 1 deadline. The Trump administration has signaled flexibility on the deadline, with Bessent emphasizing a focus on securing high-quality deals rather than rushing agreements. While some trade deals have been reached with other Asian countries, the US-China negotiations remain the centerpiece due to their global economic impact. The talks are expected to address not only tariff extensions but also broader trade issues, including sanctioned goods. Markets are closely watching the outcome, as failure to reach an agreement could trigger higher tariffs and escalate trade tensions worldwide.
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