Bessent Floats Longer Tariff Truce for China Rare Earth Deal

Geopolitical & Economic Concerns - The US government aims to help China, but will not tolerate economic coercion that slows the global economy; such actions will hurt China the most [1] - The US and its allies will not be commanded or controlled by China's command and control economy [2] - China's export controls are unacceptable to the entire world [2] - China cannot be trusted with the global supply chain [4] - China is fueling Russia's war, highlighting the risk of dependence on China for rare earths and other goods [5] Trade & Tariffs - The US is currently in a 90-day roll on tariffs [5] - A longer role in return for a delay is possible, subject to negotiations before the leaders meet in Korea [6] Supply Chain Issues - Some US auto companies reported a slowdown in magnets, which the Chinese attributed to a holiday [3] - The slowdown in magnets is a clear sign to US allies that collaboration is essential [4]