U.S. Treasury Secretary Scott Bessent said on Nov. 16 that the government is expecting to finalize a Chinese rare earths deal by Thanksgiving Day, Nov. 27.
His remarks were made after news that Beijing was looking into a verified end-user system that would prohibit companies linked to U.S. defense from acquiring rare earths.
“The agreement is that the magnets will flow freely, as they did before April 4,” Bessent told Fox’s Maria Bartiromo. The host of “Sunday Morning Futures” expressed skepticism that the deal would hold, pointing to Beijing’s track record of ignoring even signed agreements.
The rare earths deal will be one of several agreements made official after the bilateral meeting between President Donald Trump and Chinese Communist Party (CCP) leader Xi Jinping on Oct. 30….