Treasury Secretary Scott Bessent said 100% tariffs on China are "effectively off the table" after a "very good two-day meeting" between the U.S. and China.

Tensions between the U.S. and China escalated in the weeks leading up to a possible meeting between U.S. President Donald Trump and Chinese President Xi Jinping

China imported zero soybeans from the United States in September, compared to 1.7 million tonnes during the same month in 2024, according to China’s General Administration of Customs. Sept. 1 marked the beginning of the 2025-26 marketing year for US soybeans.

The following is the transcript of the interview with Treasury Secretary Scott Bessent that aired on "Face the Nation with Margaret Brennan" on Oct. 26, 2025.

Treasury Ssecretary Scott Bessent says there are initial agreements to stop the precursor chemicals for fentanyl coming into the U.S. and to purchase soybean and other agricultural products.

Scott Bessent said Ontario's anti-tariff ad, featuring quotes from Ronald Reagan, was "propaganda" aimed at swaying public opinion.

Scott Bessent told NBC News that President Donald Trump would most likely visit Chinese President Xi Jinping in Beijing early next year.

NEW YORK (AP) — Stocks are climbing toward more records on Monday ahead of a week packed with potentially market-moving events for Wall Street.