WASHINGTON (Reuters) – U.S. Treasury Secretary Scott Bessent said on Sunday he expects China to revive substantial purchases of U.S. soybeans over several years and will delay its expanded rare earths licensing regime by a year and re-examine it after two days of trade talks in Malaysia.
Bessent told CBS’ “Face the Nation” that soybean purchases would be substantial. Bessent said on ABC’s “This Week” that when President Donald Trump and President Xi Jinping announce a trade deal next Thursday, American soybean farmers “will feel very good about what’s happening both for this season and for years to come.”
Bessent also said on “Face the Nation” that details of a deal to transfer ownership of Chinese short-video app TikTok to U.S. control have been worked out and that Trump and Xi could “consummate” the transaction next week.
(Reporting by David Lawder; Editing by Will Dunham)