US Treasury Secretary Scott Bessent signalled Sunday a tentative deal for China to delay export curbs on rare earth minerals and resume buying US soybeans, thus averting a huge hike in tariffs.
President Donald Trump had threatened a 100 percent tariff hike on November 1 if the Chinese imposed rare earth global export controls, but "I think we have averted that," Bessent told ABC`s "This Week."
On the export curbs, China will "delay that for a year while they reexamine it," Bessent said, adding that Beijing had also agreed on "substantial" agricultural purchases in talks with Vice Premier He Lifeng in Kuala Lumpur.
