Summary
Treasury Secretary Scott Bessent said the U.S. must reduce its dependence on China for rare earth minerals. President Donald Trump recently announced a trade deal with China, but both countries are still expressing concerns about the agreement's stability.
Key Facts
- Scott Bessent is the U.S. Treasury Secretary.
- Rare earth minerals are essential for many high-tech products.
- China controls a large part of the world's rare earth minerals.
- President Donald Trump announced a trade deal with China that includes a temporary agreement on rare earth minerals and technology.
- The trade deal also involves China agreeing to buy U.S. soybeans.
- There is concern that the trade deal might not be permanent.
- Chinese leader Xi Jinping warned against siding with the U.S. in the trade dispute.
- Past trade truces between the U.S. and China have not lasted long.
