US, China Tee Up Trade Deal for Trump, Xi to Finish

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Transcript

00:00And ahead of that all-important meeting between Trump and Xi that's expected in Korea later this week,

00:06we of course have been hearing from the U.S. and Chinese trade negotiators

00:11and they have been engaged in talks for the past two days in Malaysia

00:16and ironing out a couple of contentious issues.

00:20We're hearing from the U.S. Treasury Secretary Scott Besson.

00:23He says 100% tariffs now off the table.

00:26We also have him talking about how the Chinese are expected to increase their soybean purchases.

00:33But of course, the key one that everyone has been watching out for as well is rare earths

00:39and those export restrictions, he thinks that could be delayed for some time to come.

00:44Have a listen.

00:45The soybeans were always going to be on the market.

00:56It's a global market.

00:58The three leading suppliers are Brazil, Argentina and the U.S.

01:03and I believe that we have brought the market back into equilibrium

01:08and I believe that the Chinese will be making substantial purchases again.