Treasury Secretary Scott Bessent announced that United States and Chinese officials agreed to extend their bilateral trade truce known as the "Busan agreement" Wednesday on Fox News."We have agreed today that we will extend what we call the Busan agreement, the economic detente between the two countries that was scheduled to end on Nov.10 that is going to be extended until Jan.
10 to give us more time to see what we can do on the economic front," Bessent told "Special Report."As the United States’ war with Iran nears the seventh-month mark, Bessent is outlining three possible ways the conflict could end while warning that the regime is a "cornered animal."Bessent that the conflict could end in three ways: members of the regime turn on one another, the Iranian people revolt or Tehran finally comes to the negotiating table and reaches an agreement."One, the regime turns on each other — not impossible," he told Fox News."Two, we get some kind of uprising for the Iranian people.
They've probably killed 50,000 of their own population, so very difficult.And then three, to get the Iranians to, if they want to make a deal, to stick to the deal."AFTER 6 MONTHS OF WAR, US MUST PREPARE FOR A FUTURE AFTER IRAN’S GOVERNMENT FALLSScott Bessent, U.S.
treasury secretary, during a House Ways and Means Committee hearing in Washington, D.C., on June 11, 2025.(Eric Lee/Bloomberg/Getty Images)The Treasury Department is continuing its sweeping economic pressure campaign against Iran, targeting Iranian assets and financial networks while pressuring foreign governments and businesses to sever economic ties with Tehran — an effort Bessent said the "world has never seen.""We have an effort never seen before in terms of constricting and cutting off the financial oxygen to them," the Treasury chief said.
"And I don't know whether it's gonna be a week, a month or two months, but they're going to yell uncle."BESSENT WARNS IRAN'S OUTSIDE BACKERS TO 'STAY AWAY' AS TRUMP SEEKS TO 'ASPHY...