US and China agree on trade framework for rare earths, soybeans

on Sunday that he anticipates that China will revive substantial purchases of US soybeans for several years and will delay its expanded licensing regime for rare earths by a year and re-examine it. His statements came after two days of trade talks between US and Chinese officials in Malaysia. Bessent told the CBS programme “Face the Nation” that the soybean purchases would be substantial. Bessent said on ABC’s “This Week” programme that when President Donald Trump and President Xi Jinping announce a trade deal next Thursday US soybean farmers “will feel very good about what’s going on both for this season and the coming seasons for several years”. Bessent also said on “Face the Nation” that the details for a deal to transfer ownership of Chinese short video app TikTok to US control were ironed out and that Trump and Xi would be able to finalise the transaction next week. Bessent and US Trade Representative Jamieson Greer met with Chinese Vice Premier He Lifeng and top trade ...