Treasury Secretary Scott Bessent mentioned Sunday that he anticipated that China wouldn’t impose export controls on uncommon earths and that the USA wouldn’t impose one hundred pc tariffs on China.
In separate interviews on NBC, CBS and ABC, Bessent mentioned that commerce negotiations with China had been very productive. The talks had been in anticipation of President Donald Trump’s assembly with Chinese language Premier Xi Jinping this week.
“The president had given me most leverage when he threatened 100% tariffs if the Chinese language imposed their uncommon earth international export controls. So I feel we have now averted that, in order that the tariffs will probably be averted,” Bessent advised Martha Raddatz on ABC’s “This Week” about talks with China’s vice premier, He Lifeng.
Bessent added: “We additionally agreed on substantial agriculture purchases for U.S. farmers. We agreed that the Chinese language would start to assist us, with the precursor chemical compounds for this horrible fentanyl epidemic that’s ravaging our nation. So I’d say that it was an excellent assembly general.”
Trump is to satisfy with Xi this week on his Asia journey. “I imagine that we have now the framework for the 2 leaders to have a really productive assembly for each side,” Bessent mentioned on NBC’s “Meet the Press.”
Talking on CBS’ “Face the Nation,” Bessent mentioned that the specter of one hundred pc tariffs imposed on China had made it doable for the Trump administration to get what it wished in negotiations.
“President Trump, to present me and the commerce workforce leverage, determined that it could be a good suggestion for him to threaten a 100% extra tariff, and it did give us an excessive amount of leverage. President Trump’s superb at creating leverage for us,” he advised host Margaret Brennan.
In response to a query from Brennan, Bessent mentioned {that a} deal over the way forward for TikTok was set to be finalized.
“We reached a remaining deal on TikTok. We reached one in Madrid, and I imagine that as of as we speak, all the small print are ironed out, and that will probably be for the 2 leaders to consummate that transaction on Thursday in Korea,” Bessent mentioned.
Bessent additionally addressed considerations that America’s soybeans farmers had been taking an enormous hit due to the continued commerce conflict.
“I imagine,” he mentioned on ABC, “when the announcement of the cope with China is made public, that our soybean farmers will really feel superb about what’s happening, each for this season and the approaching seasons, for a number of years.”
Bessent advised Kristen Welker on”Meet the Press” that the commerce talks supplied the promise of resolving quite a lot of points between the 2 superpowers. He added: “I feel that they can even be discussing President Trump’s international peace plan that he’s been so profitable at each right here in Asia, the Center East, and now he’s trying to Ukraine, Russia.”