A rare earths deal between the United States and China is “expected” to be reached by Thanksgiving, Treasury Secretary Scott Bessent said in comments that aired Sunday.
Bessent’s speech follows a framework agreement announced last month, in which Washington agreed not to impose 100% tariffs on Chinese imports and China was willing to delay an export licensing regime for crucial rare earth minerals and magnets.
“I am confident that after our meeting in Korea between the two leaders, President Trump and President Xi (Jinping), China will honor its agreements,” Bessent told Fox News’ “Sunday Morning Futures.”
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Bessent also disputed a recent Wall Street Journal report that said Chinese authorities planned to restrict access to rare earths for American companies with ties to the military.
