China Pauses Rare‑Earth Curbs After Trade Concessions

U.S. Treasury Secretary Scott Bessent said China “made a real mistake” by threatening to shut off rare‑earth exports, accusing Beijing of weaponizing minerals vital to defense systems, electric vehicles and consumer electronics. He told the Financial Times the move rattled markets, disrupted supply chains and provoked a global backlash that left Chinese leaders “slightly alarmed.” After a brief meeting between Presidents Xi and Trump at the APEC summit, Beijing agreed to suspend some export limits on rare earths for one year and leaders said an “equilibrium” had been reached for the next 12 months. Bessent warned Washington has offsetting measures and will work to secure alternative supplies over the next 12–24 months, limiting Beijing’s ability to rely on rare earths as a coercive tool. Reporting around the talks linked the temporary pause to broader trade concessions, including purchases of U.S. soybeans and other negotiated terms.