"President Donald Trump is expected to make headway on two pressing issues this weekwhile meeting with Chinese leader Xi Jinping in South Korea: tariffs and TikTok. During a Sunday interview on CBS News' "Face the Nation," Treasury Secretary Scott Bessent said trade talks between the US and China were progressing. He said the additional 100% tariff on China that President Donald Trump threatened earlier this month, and which was supposed to take effect on November 1, is now "effectively off the table.""
""I'm not going to get ahead of the two leaders who will be meeting in Korea on Thursday, but I can tell you we had a very good two days," Bessent said, referring to his own meeting with Chinese Vice Premier He Lifeng. "So I would expect that the threat of the 100% has gone away, as has the threat of the immediate imposition of the Chinese initiating a worldwide export control regime.""
President Donald Trump will meet Xi Jinping in South Korea to address tariffs and the TikTok deal. Treasury Secretary Scott Bessent reported progress in trade talks and said the additional 100% tariff scheduled for November 1 is effectively off the table. Bessent traveled with Trump and met with Chinese Vice Premier He Lifeng, saying the threat of Chinese global export controls has been averted. Bessent called the negotiations a substantial framework. U.S. Trade Representative Jamieson Greer said officials are moving toward final details for an agreement for leaders to review and decide whether to conclude.
Read at Business Insider
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