{"id":36588,"date":"2025-10-26T20:11:37","date_gmt":"2025-10-26T20:11:37","guid":{"rendered":"https:\/\/agooka.com\/news\/usa\/treasury-secretary-scott-bessent-says-trumps-100-tariff-threat-on-china-is-effectively-off-the-table\/"},"modified":"2025-10-26T20:11:37","modified_gmt":"2025-10-26T20:11:37","slug":"treasury-secretary-scott-bessent-says-trumps-100-tariff-threat-on-china-is-effectively-off-the-table","status":"publish","type":"post","link":"https:\/\/agooka.com\/news\/usa\/treasury-secretary-scott-bessent-says-trumps-100-tariff-threat-on-china-is-effectively-off-the-table\/","title":{"rendered":"Treasury Secretary Scott Bessent says Trump&#8217;s 100% tariff threat on China is &#8216;effectively off the table&#8217;"},"content":{"rendered":"<figure><img decoding=\"async\" src=\"https:\/\/i.insider.com\/68de67c7cc993f9955cf5ec8?format=jpeg\" alt=\"US Treasury Secretary Scott Bessent speaks before President Donald Trump signs executive orders in the Oval Office of the White House on September 25, 2025 in Washington, DC.\"\/><figcaption>US Treasury Secretary Scott Bessent warned government shutdown could hamper US economic growth.<\/p>\n<p>Andrew Harnik\/Getty Images<\/p>\n<\/figcaption><\/figure>\n<ul>\n<li>Trump is scheduled to meet with China&#039;s President Xi in South Korea this week.<\/li>\n<li>Treasury Secretary Scott Bessent said the US and China have reached a &quot;framework&quot; for trade talks.<\/li>\n<li>Bessent also said Trump could finalize the TikTok deal.<\/li>\n<\/ul>\n<p>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.<\/p>\n<p>During a Sunday interview on CBS News&#039; &quot;Face the Nation,&quot; 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 &quot;effectively off the table.&quot;<\/p>\n<p>Bessent is traveling with Trump during a nearly weeklong tour in Asia, which also includes stops in Malaysia and Japan.<\/p>\n<p>&quot;I&#039;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,&quot; Bessent said, referring to his own meeting with Chinese Vice Premier He Lifeng. &quot;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.&quot;<\/p>\n<p>During a separate interview on ABC News&#039; &quot;This Week,&quot; Bessent said China and the US have reached a &quot;substantial framework&quot; for trade negotiations.<\/p>\n<p>&quot;The president had given me maximum leverage when he threatened 100% tariffs if the Chinese imposed their rare earth global export controls, so I think we have averted that,&quot; he said.<\/p>\n<p>Jamieson Greer, the US trade representative, echoed Bessent&#039;s remarks while talking to reporters in Malaysia on Sunday.<\/p>\n<p>&quot;We are moving forward to the final details of the type of agreement that the leaders can review and decide if they want to conclude together,&quot; Greer said, The New York Times reported.<\/p>\n<p>On Sunday, Bessent also told &quot;Face the Nation&quot; that Trump and Xi could push through a TikTok deal when they meet on Thursday.<\/p>\n<p>&quot;We reached a final deal on TikTok,&quot; Bessent said. &quot;We reached one in Madrid, and I believe that as of today, all the details are ironed out, and that will be for the two leaders to consummate that transaction on Thursday in Korea.&quot;<\/p>\n<p>ByteDance, the Chinese owner of TikTok, is expected to sell the platform&#039;s US-based assets in response to a 2024 divest-or-ban law. A group of companies and investors is expected to take over the popular social media app&#039;s US operations. Trump earlier said that Larry Ellison and his company, Oracle, would be involved in the deal alongside Rupert Murdoch and Michael Dell. ByteDance is expected to maintain a minority stake.<\/p>\n<p>Representatives for the White House did not respond to a request for comment from Business Insider.<\/p>\n<p>Read the original article on Business Insider<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US Treasury Secretary Scott Bessent warned government shutdown could hamper US economic growth. Andrew Harnik\/Getty Images Trump is scheduled to meet with China&#039;s President Xi in South Korea this week. Treasury Secretary Scott Bessent said the US and China have reached a &quot;framework&quot; for trade talks. Bessent also said Trump could finalize the TikTok deal. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":36589,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":{"0":"post-36588","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-usa"},"_links":{"self":[{"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/posts\/36588","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/comments?post=36588"}],"version-history":[{"count":0,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/posts\/36588\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/media\/36589"}],"wp:attachment":[{"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/media?parent=36588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/categories?post=36588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/agooka.com\/news\/wp-json\/wp\/v2\/tags?post=36588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}