Bessent: China made mistake on rare earths

 United States Treasury Secretary Scott Bessent said on Friday that China "made a real mistake" in imposing export controls on its rare earths. He told the Financial Times that Beijing "alerted everyone to the danger" of relying on its rare earths and that the US will employ offsetting measures, limiting China's leverage to 12 to 24 months.

Bessent said that US President Donald Trump and Chinese President Xi Jinping "realized that stability between the two countries is important, for both economies and for the global economy" when they met yesterday. He conceded that there will be some "bumps" in bilateral trade deal negotiations, but that he believes they will succeed, claiming that the two countries have "much better communication channels now."

https://breakingthenews.net/Article/Bessent:-China-made-mistake-on-rare-earths/65097514