Bessent has already indicated that Trump is likely to extend the deadline for the deal again, postponing the announced increase in tariffs on Chinese imports.

The US and China have been trading tariffs since the start of Trump's term - occasional tariff hikes have been interrupted by temporary truces, often accompanied by new threats and deadlines. They finally agreed in Geneva in May to temporarily reduce tariffs, but a permanent deal by mid-August has become increasingly unlikely.

The current agreement expires on August 12. I will be in Stockholm on Monday and Tuesday with Chinese representatives, where we will also talk about extending the deadline, Bessent explained in an interview with Fox. He also revealed that the negotiations will also include the issue of China's purchases of Iranian and Russian oil.

Although Trump currently has no plans to raise tariffs above 10 percent, which applies to all exporters to the US, he warned a few days ago that he may impose significantly higher duties on certain countries if an agreement is not reached by August 1.

So far, agreements have only been reached with Great Britain, Vietnam and Indonesia, and Trump is announcing a new wave of trade agreements by the beginning of August. Negotiations with China remain one of the key priorities of the US, also due to the restrictions on access to rare earths, which are consequences of American trade policy. So there is no doubt that the talks will continue, as everyone has a similar interest.