U.S. Confident in China's Rare Earth Pact

U.S. Treasury Secretary Scott Bessent expressed confidence in China's commitment to expedite the supply of rare earth minerals and magnets. Despite slower flows post-April 4, Bessent remains optimistic about China's adherence to the agreement, aiming for an improved supply rate.

U.S. Treasury Secretary Scott Bessent affirmed his confidence in China's recent commitment to increase the pace of rare earth mineral and magnet shipments during an interview with Fox News on Tuesday.

Bessent acknowledged that while current shipments are slower than the rate prior to April 4, he remains optimistic that China will honor its part of the agreement.

"We are hoping they will flow at a faster rate," Bessent commented, emphasizing the importance of these materials.