CBS stenographer Margaret Brennan attempts to play the role of geopolitical trade expert in this interview with Treasury Secretary Scott Bessent.  She fails miserably.

Secretary Bessent gives a few more details on the upcoming trade agreement that will be signed by President Trump and Chairman Xi at the upcoming meeting in South Korea.   Brennan asks if the export controls on Chinese rare earth minerals “will be lifted.”  Bessent reminds Brennan the export controls have never been imposed.  lol  WATCH (or read):

[Transcript] – MARGARET BRENNAN: We begin this morning with Treasury Secretary Scott Bessent, who is traveling with President Trump. He joins us from Kuala Lumpur, Malaysia. Good evening to you.

TREASURY SECRETARY SCOTT BESSENT: Margaret, good to speak to you.

MARGARET BRENNAN: You have been negotiating directly with the Chinese. You said today a truce may have been reached. The threat on the table was a 155% tariff on China. The President said that would be effective November 1. Is that off the table? What are the terms?

SEC. BESSENT: Margaret, I think we had a very good two day meeting. I would believe that the- so it would be an extra 100% from where we are now, and I believe that that is effectively off the table. I’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. 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.

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Treasury Secretary Scott Bessent made the legacy media rounds Sunday saying that he and his Chinese negotiating counterpart had reached an agreement on export controls for rare earth minerals, that would lead to the United States not imposing 100 percent tariffs on China.

Secretary Bessent said that trade negotiations with China had been very productive. The plan was to create a deal for President Donald Trump’s meeting with Chinese Chairman Xi Jinping this week in South Korea. However, NBC’s Kirsten Welker was not prepared for Bessent to make a positive announcement about U.S-China trade negotiations.

Because the script in front of her did not factor in the announcement by Bessent, what you see is Secretary Bessent breaking news about a U.S-China trade agreement, but Welker’s pre-scripted follow up questions didn’t align with that news. Welker ends up asking about tariffs and rare earth minerals, after Bessent says a deal to avoid tariffs and retain rare earth mineral access was developed.

Welker then continues asking about U.S-China trade conflicts until Bessent makes the point of saying something akin to ‘can you not hear me, the trade friction is resolved.’ Welker is then forced to abandon her script and ask about Canada. WATCH:

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Speaking to leaders of the Association of Southeast Asian Nations (ASEAN), President Trump delivered remarks during the working session.

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President Trump participates in a peace treaty, trade and critical mineral agreement signing with the Prime Minister of the Kingdom of Cambodia and the Prime Minister of the Kingdom of Thailand.

President Trump was the witness signatory for a declaration of peace and security between Cambodia and Thailand.

We, the Prime Minister of the Kingdom of Cambodia and the Prime Minister of the Kingdom of Thailand, as witnessed by the President of the United States of America and the Prime Minister of Malaysia, having met in Kuala Lumpur, Malaysia, on October 26, 2025, declare the following:

We reaffirm the unwavering commitment to peace and security between our two countries — as declared in Putrajaya, Malaysia, on July 28, 2025 — and reiterate our firm commitment to refrain from the threat or use of force, peaceful settlement of disputes, and respect for international boundary and of international law, for the promotion of peace, security, stability, and prosperity in the region on the basis of mutual respect for the independence, sovereignty, equality, territorial integrity, and national identity of our respective nations.

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Great respect was delivered by the Malaysian Prime Minister Anwar Ibrahim as President Donald Trump arrives for the ASEAN summit.  The full honor guard were present, and President Trump even enjoyed a little dancing fun with the cultural attachés.  Good Stuff.  WATCH: 

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I have talked to a lot of Canadians on the issues of economics and trade. As a result, I can say with complete sincerity that not since the COVID-19 examples of New Zealand (lockdowns) and Australia (vaxx), has a nation engaged in such a level of mass cognitive dissonance as the govt of Canada on the issue of economics and trade – in the past few years. It is stunning.

To understand the reality of the situation Here’s an IN-DEPTH LINK. Apparently, few really understand the full scope of the issues.

President Trump responds to the latest decision of the Canadian government.

PRESIDENT TRUMP: “Canada was caught, red handed, putting up a fraudulent advertisement on Ronald Reagan’s Speech on Tariffs. The Reagan Foundation said that they, “created an ad campaign using selective audio and video of President Ronald Reagan. The ad misrepresents the Presidential Radio Address,” and “did not seek nor receive permission to use and edit the remarks. The Ronald Reagan Presidential Foundation and Institute is reviewing its legal options in this matter.”

“The sole purpose of this FRAUD was Canada’s hope that the United States Supreme Court will come to their “rescue” on Tariffs that they have used for years to hurt the United States. Now the United States is able to defend itself against high and overbearing Canadian Tariffs (and those from the rest of the World as well!). Ronald Reagan LOVED Tariffs for purposes of National Security and the Economy, but Canada said he didn’t! Their Advertisement was to be taken down, IMMEDIATELY, but they let it run last night during the World Series, knowing that it was a FRAUD.”

“Because of their serious misrepresentation of the facts, and hostile act, I am increasing the Tariff on Canada by 10% over and above what they are paying now. Thank you for your attention to this matter!” [SOURCE]

President Trump said he will not be meeting with Prime Minister Mark Carney in Malaysia.

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Airforce One was refueling in Qatar en route to Malaysia for the ASEAN summit.  In a little bit of a surprise, the Amir of Qatar came to the airport to pay a courtesy visit to President Trump.  Smiles all around.  WATCH:

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President Trump held a press gaggle with the traveling pool immediately after taking off from the refueling in Qatar.  Below.

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Here’s the audio of President Trump discussing his trip to Asia to attend the ASEAN and APEC summits in Malaysia and South Korea respectively.

President Trump is anticipated to meet with Chinese Chairman Xi Jinping in South Korea and there is a rumor that Trump and North Korea leader Kim Jong-un might meet somewhere. President Trump even made mention that if media put out the word, he would be willing to meet with Chairman Kim at the DMZ while he is in South Korea.  Audio Below:

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There has been a slight bit of ambiguity in President Trump’s schedule as he heads to Asia for the first time in his second term.  The President will attend the Association of Southeast Asian Nations (ASEAN) summit in Malaysia first.  The focus of President Trump and the ASEAN nations will be economics and regional stability.  Then President Trump will then head to Japan.

Washington and Tokyo reached a trade agreement earlier this year, which included the promise of $550 billion of investments in U.S. projects. Interestingly, Japan is in a moment of political transition, as Sanae Takaichi was elected to be the country’s first female prime minister. Takaichi is a protégé of Shinzo Abe, a former prime minister and dear friend of President Trump.  The meeting between Takaichi and Trump will likely hold a lot of very positive energy for both leaders; there is great respect.

President Trump will then head to South Korea, which is hosting this year’s Asia-Pacific Economic Cooperation (APEC) summit. President Trump has said he’ll sit down with Chinese Chairman Xi Jinping while he’s there for a much-anticipated meeting.  Additionally, President Trump will be discussing tariffs on South Korean autos and directly addressing stalled trade negotiations.  There is also a possibility for President Trump to visit North Korea’s Kim Jong-un and reconnect after several years of separation.  There is a lot of potential for this overall visit to Asia.

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As long as the communication backchannels between Trump and Putin remain actively engaged, the risk of escalation is contained but the anxiety of the Europeans continues.

President Trump emissary Steve Witkoff and President Putin emissary Kirill Dmitriev are meeting this weekend in Miami to continue conversations.

As noted by Politico, “Kirill Dmitriev, Russian President Vladimir Putin’s special presidential representative for investment and economic cooperation, is flying to Florida to meet with Trump envoy Steve Witkoff, a White House official confirmed to POLITICO. […] “With Trump soon departing for Asia, Witkoff is again on the front lines of negotiating. Dmitriev, as the CEO of the Russian Direct Investment Fund, has particular interests in establishing further U.S.-Russia business relations.” (more)

Both President Trump and President Putin have noted publicly their conversations about building an economic relationship once the issues of the Ukraine war are settled.

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