Give us the contours of the deal.

Right.

Let's just jump right into what President Trump is saying that they actually did agree upon.

He said, number one, that there was an agreement on China that would be repurchasing soybeans,

that they had effectively stopped purchasing over the course of the summer because of the sky-high tariffs

that were placed on the United States at one point up to 145%.

President Trump says that he agreed to drop the current tariff rate by 10% because China

committed to addressing the illegal fentanyl trafficking issue. At the same time, when you drop it

by just 10%, President Trump says that he is still

slapping a 47% tariff on all Chinese goods coming into the United States. He did also suggest that

China would make openings for rare earth minerals to be exported to the United States. We don't

have details on exactly which rare earth minerals those are.

We know that was a key sticking point. We also know that the President of the United States

suggested that as part of this exchange, that he would allow for the exporting of U.S. produce

semiconductors and chips and even allow NVIDIA to engage directly with the

Chinese government. And so what was not discussed, number one, Taiwan, there was no word on

the finalization of a TikTok deal. I am told that that did not come up over the course of the two

hours of this meeting. But also, when we talk about the buying of soybeans, for example, and the

agricultural goods that the Trump administration is saying China committed to buying, I want to be

very clear. And I think we've got a graphic where you can look at last 10 years about the

amount of soybeans that China has bought from the United States. And you look at last year, and in

2023, it was 26.8 and 26.4 million metric tons. To put that in context, Scott Bessent

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