US and China To Pause 100 Percent Tariffs and Rare Earth Export Controls

Benzinga

The U.S. and China reached a draft trade deal ahead of the APEC summit, averting Trump’s 100% tariffs and delaying China’s rare earth export rules. The agreement restores U.S. soybean sales and pauses punitive trade measures.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02U.S. and Chinese officials have drafted a major trade deal expected to be finalized by Trump

00:08and Xi at the upcoming APEC summit, according to Reuters.

00:12The agreement halts 100% tariffs on Chinese imports,

00:15delays China's rare-earth export licensing rules by a year,

00:19and resumes U.S. soybean sales.

00:22U.S. Treasury Secretary Scott Besson said Trump's planned 100% tariffs on Chinese imports

00:27have been averted and that China will likely delay its rare-earth licensing regime by a year.

00:33Trade Representative Jameson Greer said both sides agreed to pause punitive measures

00:38and open access to Chinese rare-earths.

00:41China's Li Qinggang confirmed a preliminary consensus pending internal approvals.

00:46For all things money, visit Benzinga.com.

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