U.S. Treasury Secretary Bessent said on Sunday that he expects President Donald Trump and Chinese President Xi Jinping to speak soon in an effort to resolve a growing dispute over critical minerals.
Speaking to CBS' Face the Nation, Bessent accused China of withholding essential materials that underpin industrial supply chains in the U.S., India, and Europe.
“What China is doing is they are holding back products that are essential for the industrial supply chains of India, of Europe. And that is not what a reliable partner does,” Bessent said.
President Trump had earlier accused Beijing of violating a mutual agreement to roll back tariffs and trade restrictions on strategic mineral exports.
“I am confident that when President Trump and Party Chairman Xi have a call, that this will be ironed out,” Bessent said, adding that China’s move may be “a glitch in the system” or something more deliberate.
Although China confirmed in April that the two leaders had not spoken recently, Bessent expressed confidence that contact is imminent.
Asked whether a call was scheduled, he responded: “I believe we’ll see something very soon.”
The dispute comes as critical minerals remain central to global energy transitions, with growing competition between major economies over supply chain control.
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Türkiye aims to increase its trade with Turkic states to $60 billion in the medium term and $100 billion in the long term, President Recep Tayyip Erdoğan announced on Monday.
U.S. President Donald Trump announced on Monday that he will sign an executive order classifying fentanyl as a “weapon of mass destruction” as part of his ongoing campaign against drug smuggling.
Ukraine’s domestic security service, the SBU, says it struck a Russian Kilo‑class submarine in the Black Sea port of Novorossiysk, causing critical damage.
Washington’s seizure of a tanker carrying Venezuelan oil shows a shift from financial sanctions to direct maritime action, further straining relations with Caracas and increasing risks for global shipping.
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