US Treasury Secretary Scott Bessent anticipates extending the trade deadline with China beyond August 12th. Discussions in Stockholm next week will focus on extending a 90-day tariff suspension and broader issues. These include encouraging China to shift from manufacturing-heavy growth to a consumer economy, reducing reliance on sanctioned Russian and Iranian oil, and addressing China's support for Russia in the Ukraine conflict. Bessent expressed optimism about the constructive nature of recent talks and the potential for significant progress.

Prepared by Christopher Adams and reviewed by editorial team.