Bessent: China Truce Near, TikTok Deal Finalized

Speaking from Kuala Lumpur, Treasury Secretary Scott Bessent said a truce with China may have been reached: President Trump’s threatened 100% additional tariff is effectively off the table, and the threat of Chinese rare‑earth export controls has lifted. He said a TikTok deal is finalized pending leaders’ approval in Korea and promised soybean farmers will be “extremely happy,” with no changes to U.S. export controls. Bessent blasted Democratic senators over the shutdown, criticized Ontario’s ad campaign amid tariff tensions, predicted cooling inflation, and said new Russia sanctions will bite immediately, citing halted Indian and Chinese refinery purchases.

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