Treasury Secretary Scott Bessent predicted that he will likely reach an agreement on an extension of President Trump’s upcoming trade deadline with China when he meets with his Chinese counterpart next week in Stockholm, Sweden. The 90-day delay of higher tariffs on China announced in May is set to expire August 12th. Bessent’s remarks come as President Trump said that he reached a trade deal with the Philippines that would entail 19% tariffs on the Philippines (down from 20%) and in return, the Philippines would not impose any tariffs on U.S. goods.
