U.S. and China to Pause Rare-Earth Export Limits for One Year, Treasury Chief Says
The timing tracks a Trump–Xi meeting that Trump said produced a pledge of continued “open and free” supplies.
Overview
- U.S. Treasury Secretary Scott Bessent said Washington and Beijing agreed to a one-year suspension of export restrictions on rare-earth metals.
- Bessent described the pause as secured in exchange for concessions sought by Beijing, speaking on Fox Business.
- Earlier, President Donald Trump posted on Truth Social that China agreed to continue open and free supplies of rare earths, critical minerals, and magnets after his meeting with Xi Jinping.
- RIA Novosti reported both statements and did not cite an on-the-record confirmation from Chinese officials within its coverage.
- Bessent also said Trump and Xi agreed to begin joint work targeting the fentanyl crisis, including precursors shipped from China to Canada and Mexico.