US EditionChina rare earths deal will 'hopefully' be done by Thanksgiving, Bessent says
The agreement includes tariff reductions, resumed Chinese purchases of 12 million metric tons of soybeans in 2025, and restored rare earths exports vital to US companies, officials said.
- On Sunday, US Treasury Secretary Scott Bessent said a rare earths deal would be finished by Thanksgiving, formalising a framework reached after US President Donald Trump and Chinese President Xi Jinping hammered out a trade truce last month.
- Under the framework agreed last month, Washington cut back tariffs while Beijing committed to buy at least 12 million metric tons of American soybeans by the end of this year.
- Earlier this month, China's Commerce Ministry suspended export controls imposed on October 9, effective immediately and applying through November 10, 2026.
- Bessent warned that Washington retains options if Beijing backtracks and disputed a Wall Street Journal report about restricting rare earth access for US companies with ties to the military.
- Bessent said `But we believe that we have remedied that` after China had 'made pawns out of our great soybean farmers,' expressing confidence China will honor agreements post Korea meeting.
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Scott Bessent Expects US-China Rare Earths Deal By Thanksgiving Based On Xi Jinping's 'Word' But Issues Caution: 'All Options...'
Treasury Secretary, Scott Bessent, expressed optimism about the ongoing rare earths deal between the U.S. and China, hinting at a potential resolution by Thanksgiving.
US aims to seal rare earths deal with China by Thanksgiving: Scott Bessent
The Treasury Secretary says Washington hopes to finalise a rare earths supply deal with China by late November. The agreement aims to ease trade tensions but includes warnings of retaliation if China does not comply.
Firstpost News
US-China rare earths deal expected by Thanksgiving, says Treasury Secretary Bessent
A rare earths deal between the U.S. and China will "hopefully" be done by Thanksgiving, Treasury Secretary Scott Bessent said in remarks that aired on Sunday.
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