Scott Bessent says China to delay rare earths rules by a year, buy U.S. soybeans

US Treasury Secretary Scott Bessent signalled Sunday a tentative deal for China to delay export curbs on rare earth minerals and resume buying US soybeans, thus averting a huge hike in tariffs. President Donald Trump had threatened a 100 percent tariff hike on November 1 if the Chinese imposed rare earth global export controls, but "I think we have averted that," Bessent told ABC's "This Week."