🇺🇸🇨🇳 The U.S. Considers Extending Trade Agreement with China – A New Sign of De-escalation?
U.S. Treasury Secretary Scott Bessent has just revealed the possibility of extending the deadline for the trade agreement between the U.S. and China in meetings in Stockholm, Sweden next week.
Previously, in mid-May, Washington and Beijing agreed to suspend most of the high tariffs for 90 days to continue negotiations. This temporary agreement is set to expire on 12/8, therefore, extending it is a key factor in maintaining a stable relationship between the two largest economies in the world.
Mr. Bessent stated that the Trump administration is hoping to continue dialogue on several key issues such as:
• Reducing China's excess production
• Promoting domestic consumption in China
• Considering Beijing's oil purchases from Russia and Iran
• Clarifying the role of support for Russia in the Ukraine conflict
He emphasized that U.S.-China relations are currently in a "very constructive" state and believes both sides will achieve further progress.
🌟 This is a positive signal for the global economy and the financial markets, with crypto potentially benefiting if trade tensions continue to ease!
