Overview

• After two days of high-level talks in Stockholm this week, Bessent said the US and China have the 'makings of a deal' but stressed it is not finalized.
• US negotiators pressed hard to secure more favorable tariff adjustments during the two-day Stockholm talks.
• Export curbs on rare earth minerals remain a critical sticking point in efforts to stabilize global supply chains.
• The X post by Bessent was reuploaded after technical issues and reflected messaging consistent with his CNBC interview.
• Both sides must reach a comprehensive tariff accord by August 12 or face a new round of punitive duties under President Trump’s administration.