Goldman Sachs expects Nvidia ’beat and raise,’ lifts price target to $240
Investing.com -- Treasury Secretary Scott Bessent confirmed Thursday that the United States will suspend expanding export restrictions for one year as part of ongoing negotiations with China.
"Yes, we are going to be suspending that for a year in return for the suspension on the rare earth licensing regime," Bessent said during an interview on Fox Business.
The suspension specifically applies to export curbs that would have affected entities at least 50% owned by sanctioned companies. Additionally, Section 301 measures on China will also be suspended.
Bessent indicated that the TikTok deal is expected to proceed "in weeks, months," suggesting progress in resolving the long-running dispute over the social media platform’s operations in the US.
The Treasury Secretary also revealed that signatures on a broader China deal could come as early as next week. As part of the agreement, China has committed to purchasing 12 million metric tons of soybeans this year, followed by at least 25 million metric tons annually for the next three years.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.