Treasury Head to Attend US-China Trade Talks in Stockholm
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Treasury Secretary Scott Bessent said he will meet his Chinese counterparts in Stockholm next week for their third round of trade talks.
“That deal expires on Aug. 12,” Bessent said on Fox Business of the latest trade truce between the world’s two largest economies. “I’m going to be in Stockholm on Monday and Tuesday with my Chinese counterparts and we’ll be working out what is likely an extension then.”
He also said that the negotiations with China can now take on a broader array of topics, potentially including Beijing’s continued purchases of “sanctioned” oil from Russia and Iran.
“Trade is in a very good place with China,” he said. “We’re going to be talking about a lot of the other things that our countries can do together.”
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Bessent also predicted a “rash” of trade deals between now and the Aug. 1 deadline the Trump administration has set.
“I think Aug. 1st is a pretty hard deadline,” he said. “What I think will happen is that the tariff level will boomerang back to the reciprocal level on April 2nd. That doesn’t mean we negotiate when the countries are at the higher level.”
