Scott Bessent announced that discussions between Beijing and Washington on these strategic trade issues made it possible to establish a “solid framework” for an agreement.
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US Treasury Secretary Scott Bessent announced on Sunday October 26 that China was considering “delay for a year” imposing restrictions on the export of rare minerals and resuming the purchase of American soybeans, thus avoiding a massive increase in customs duties against it.
President Donald Trump, who began a tour of Asia yesterday and is due to meet Xi Jinping, had threatened to impose additional duties of 100% from November 1 if China imposed global controls on exports of rare earths. “I think we avoided that”declared Scott Bessent, interviewed by the American channel ABC.
China “will delay this for a year while she re-examines the situation”he added, specifying that Beijing had also accepted “substantial agricultural purchases from American farmers“, during discussions with Vice-Premier He Lifeng.
