China to Delay Rare Earths Rules by a Year, Bessent Says

2025-10-26 23:16 By Chusnul Chotimah 1 min. read

Top Chinese and US economic officials on Sunday hammered out the framework of a trade deal for US President Donald Trump and Chinese President Xi Jinping to finalize later this week, a move that would pause steeper US tariffs and China’s planned export controls on rare earths, US officials said, according to Reuters.

US Treasury Secretary Scott Bessent said talks held on the sidelines of the ASEAN Summit in Kuala Lumpur had eliminated the threat of Trump’s 100% tariffs on Chinese imports that were set to take effect on November 1.

Bessent added that he expects China to delay the implementation of its licensing regime for rare earth minerals and magnets by a year while the policy is reconsidered.

Chinese officials were more circumspect about the discussions and offered no details on the outcome of the meetings.

Trump and Xi are scheduled to meet on Thursday on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, South Korea, to sign off on the terms.



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