Trump Thinks He’s Got a Trade ‘Deal’ With China……

The  Trade “Dancing’ continues….

This is HAS been Trump negociating with China , which the United States AND China both NEED…..

China has NOT made things easy for the former Real Estate ‘dealing’ guy looking for some success around the world……

There NEVER was gonna be a 155% tariff/import tax on China goods…..

 

The U.S. has worked out a “framework” trade deal with China that will avoid a threatened additional 100% in tariffs, Treasury Secretary Scott Bessent said Sunday.

Why it matters: The news will come as a huge relief to financial markets, which feared an escalation of the trade war, and to businesses, which worried about an unimaginable surge in their costs.

Catch up quick: The recent re-escalation of the trade conflict with China had tariffs poised to rise to 155% as of Nov. 1.

• President Trump himself conceded such a tariff on the world’s second-largest economy was not sustainable.
• Trump and Chinese leader Xi Jinping are on track to meet in the coming days, a conversation expected to touch on rare earth minerals, soybeans, technology exports and more.

What they’re saying: “President Trump gave me a great deal of negotiating leverage with the threat of the 100% tariffs on November 1. And I believe we’ve reached a very substantial framework that will avoid that and allow us to discuss many other things with the Chinese,” Bessent told NBC’s “Meet the Press” anchor Kristen Welker on Sunday….

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• “I can tell you that the soybean farmers are going to be extremely happy with this deal for this year and for the coming years,” he told CBS’s “Face the Nation.”

The intrigue: Bessent also said he expected the Chinese would defer a planned tightening of export controls on rare earth minerals, which has been a flashpoint in the trade war.

• China controls most of the world’s supply and processing of rare earths, which are crucial for the manufacture of high-tech products with both consumer and defense applications.

What to watch: “It will be up to the two leaders to discuss the final terms,” Bessent told “Meet the Press.”

• It was only ten days ago that Bessent told reporters China “can’t be trusted.”…..

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