The United States announced a discussion with China on the extension of duty relief

The United States will try to negotiate with China on extending the period of duty relief. This was announced on July 22 by American Treasury Secretary Scott Bessent.

According to him, the agreement on tariff relief expires on August 12, so the United States and China will hold a meeting in Stockholm on July 28 and 29, where the parties will work on a possible extension of the deal.

In an interview with Fox Business, Bessent also stressed that the United States' trade with China is in a "very good position," adding that the American administration is now shifting its attention to "other pressure points in relations between the countries."

A clear barrier: why the US wanted to conclude a trade deal with China

If the parties do not agree, it will affect the entire global trade.

At the same time, on July 21, Washington threatened to impose duties of 100% on China for the purchase of Russian oil. According to the minister, the next round of US-Chinese talks may include discussions on Beijing's purchases of Russian and Iranian oil.

On May 4, Trump announced his intention to reduce trade duties on China at some point so that business could be done with it. In his opinion, China's economy is collapsing because of the tariffs it has imposed.

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