US Could Hike Tariffs If China Backtracks On Rare Earths: Bessent

Jim Banks to propose bill to boost domestic rare earths production

Sen. Jim Banks (R-IN) plans to introduce legislation in the coming weeks to spur domestic production of rare earth materials and reduce reliance on China, which dominates the global supply crucial to the energy and defense sectors. China controls the majority of the critical mineral and rare earths supply chain and has used its dominance as leverage against the United States. The materials are used in the energy and defense sectors to develop ap…

U.S. could hike tariffs if China backtracks on rare earths: Treasure Secretary Bessent

Mr. Bessent also accused previous U.S. governments of being “asleep at the switch” as Beijing spent years putting together its rare earths strategy

US Could Hike Tariffs If China Backtracks On Rare Earths: Bessent

US President Donald Trump's administration is prepared to raise tariffs on China if Beijing continues blocking rare earth exports, Treasury Secretary Scott Bessent warned Sunday.

Washington warns China over rare earth exports as Trump administration mulls tariff hike

The United States signaled a tougher stance toward China on Sunday (Nov 2), warning that tariffs could be raised again if Beijing fails to honor its commitments on rare earth exports. Treasury Secretary Scott Bessent said the Trump administration is… The post Washington warns China over rare earth exports as Trump administration mulls tariff hike appeared first on The Asia Live.