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