A rare earths agreement between the United States and China will “hopefully” be finalised by Thanksgiving, Treasury Secretary Scott Bessent said in an interview broadcast on Sunday.
His remarks come after a framework deal was announced last month under which Washington agreed not to impose 100% tariffs on Chinese imports, while Beijing would delay introducing an export licensing system for key rare earth minerals and magnets.
“I am confident that, following the meeting in Korea between the two leaders, President (Donald) Trump and President Xi (Jinping), China will uphold its commitments,” Bessent told Fox News’s Sunday Morning Futures.
He also rejected a recent Wall Street Journal report claiming that Chinese officials intended to limit U.S. military-linked companies’ access to rare earth supplies.
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