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US Treasury Sec.: CN Rare Earth Control Measures Put off by 1 Yr; Threat of 100% Tariff on CN Goods in Oct Eliminated
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Representatives from China and the US reached a framework consensus on trade issues, which will be finalized during the meeting between Chinese President Xi Jinping and US President Donald Trump this week, Reuters reported. US Treasury Secretary Scott Bessent remarked that the talks have eliminated the threat of imposing a 100% tariff on Chinese goods next month. It is also expected that China will put off the implementation of export arrangements for rare earth resources and magnets by one year and will review this policy. Bessent anticipated that the US-China trade truce will extend beyond the deadline of November 10, and China will resume major purchases of US soybeans. In an interview with ABC, he mentioned that US soybean farmers will feel very positive about the planting seasons in the coming years, once the details of the agreement are announced. AASTOCKS Financial News Website: www.aastocks.com |
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