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China rare earths deal will ‘hopefully’ be done by Thanksgiving, says Scott Bessent
Treasury chief disputed a Wall Street Journal report saying China plans to restrict rare earths access for US companies with military ties
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A rare earths deal between the US and China will “hopefully” be done by Thanksgiving, Treasury Secretary Scott Bessent said in remarks that were broadcast on Sunday.
Bessent’s comments follow a framework agreement announced last month in which Washington agreed not to impose 100 per cent tariffs on Chinese imports and China would hold off on an export licensing regime for crucial rare earths minerals and magnets.
“I am confident that post our meeting in Korea between the two leaders, President Trump, President Xi (Jinping), that China will honour their agreements,” Bessent told Fox News’ Sunday Morning Futures programme.
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Bessent also disputed a recent report in The Wall Street Journal that said Chinese officials planned to restrict access to rare earths for US companies with ties to the military.
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