U.S. Treasury Secretary Scott Bessent said the Stockholm negotiations with China have produced the “makings of a deal,” adding that he is “optimistic about the path forward.” His comments follow two days of talks that Treasury and trade officials described as constructive. Separately, U.S. Trade Representative Jamieson Greer told CBS’s “Face the Nation” that discussions with Beijing are “about halfway there,” focused largely on freeing the flow of rare-earth magnets. Greer signalled that the 12 August deadline—when tariffs on Chinese goods could jump back to roughly 84%—is now “under discussion,” reflecting progress since April, when Washington imposed a sweeping 145% duty on Chinese imports before a temporary truce cut levies to about 30%. Canada is also pressing Washington for relief. Trade Minister Dominic LeBlanc said talks remain active and that Ottawa is “encouraged” by conversations with Greer and other U.S. officials, although he stressed that Canada “won’t rush into a bad deal.” LeBlanc said lowering some tariffs is an option if a durable agreement can be reached. The White House has nonetheless warned partners not to expect sweeping concessions. Greer and economic adviser Kevin Hassett both said most of President Donald Trump’s new tariff rates are “pretty much set,” underscoring uncertainty for businesses ahead of the mid-August deadline.